While in Nigeria, the bank said Mr Banga will meet with President Bola Tinubu and Vice President Kashim Shettima.

The World Bank President, Ajay Banga, will visit Nigeria this week as part of his mission to advance a global tour and improve the bank's relationship with partners and countries of the world.

A statement by the bank said Mr Banga will begin a three-day visit to Nigeria on 3 August.

"This is the next step of a global tour that is at the centre of a mission to write a new playbook for the 78-year-old institution," the statement said.

According to the statement, Mr Banga will focus his time in Nigeria on identifying opportunities to create jobs for young people and women, addressing energy needs and renewable energy, and further exploring the potential for digitization.

"As part of these efforts, he will visit a World Bank-financed mini-grid power plant that is providing solar energy to an entire community and a woman-owned business that has generated more than 1,500 service-sector jobs for young Nigerians," the bank said.

While in Nigeria, the bank said Mr Banga will meet with President Bola Tinubu and Vice President Kashim Shettima.

"In addition, the World Bank will convene discussions with representatives from the private sector and civil society.

"Banga is arriving after a two-day visit to Ethiopia and will be joined by his wife, Ritu Banga.

"The African visit follows earlier tour stops in Peru, Jamaica, and India," it said.

Mr Banga became the president of the World Bank in May after he was selected by executive directors of the bank for a five-year term.

Before assuming leadership of the World Bank, Mr Banga served as president and CEO of Mastercard, a global organisation with nearly 24,000 employees and as honorary chairman of the International Chamber of Commerce between 2020 and 2022.