The Federal Government has opened discussions with the World Bank Group on securing additional financing support for infrastructure development, particularly in the power sector.
The move is aimed at attracting private investment, creating jobs and translating recent economic reforms into sustainable economic growth while reducing pressure on public finances.
The discussions focused on expanding Nigeria’s access to World Bank guarantee instruments to attract private capital for critical infrastructure projects.
This was disclosed in a statement by the Head of Media at the Federal Ministry of Finance, Efe Ovuakporie, following a meeting involving the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele; the Governor of the Central Bank of Nigeria, Olayemi Cardoso; and the President of the World Bank Group, Ajay Banga.
The meeting took place on the sidelines of the 2026 International Monetary Fund and World Bank Group Annual Meetings in Bangkok, Thailand, where Oyedele is leading Nigeria’s delegation.
The proposed financing support is expected to help mobilise private-sector investment for infrastructure projects, particularly in the power sector, while easing the financial burden on the government.
