Abuja — The World Bank has said it has committed over $16 billion to 28 active projects in Nigeria.
This financial commitment has been mostly through concessional financing from the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD).
In a statement issued yesterday, the bank said these investments are targeted at helping Nigeria tackle its most pressing development priorities.
These include expanding access to essential services such as electricity, education, and healthcare, advancing gender inclusion and economic opportunities for women, and improving food security through enhanced agricultural productivity.
Meanwhile, as part of efforts to deepen its partnership with Nigeria, the World Bank's Regional Vice President for Western and Central Africa, Mr. Ousmane Diagana, is scheduled to visit the country from April 14 to 17, 2025.
Diagana's visit will focus on advancing discussions around Nigeria's economic recovery, job creation, and investments in human capital.
He is expected to hold a high-level meeting with Vice President Kashim Shettima at the Presidential Villa to examine the strategic relationship between Nigeria and the Bank, and to explore additional avenues for cooperation.
During the four-day visit, Diagana will also hold consultations with several cabinet members, including the Minister of Finance, Wale Edun; the Minister of Budget and Economic Planning, Senator Abubakar Bagudu; the Minister of Power; the Minister of Humanitarian Affairs; the Minister of Health; and the Minister of Communications and Digital Economy.
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A central theme of these engagements will be the financing of Nigeria's energy sector. To that end, the World Bank executive will participate in a roundtable with key stakeholders focused on strengthening financial flows into the power sector and attracting private sector participation.
Reliable and affordable electricity remains one of Nigeria's most significant infrastructure deficits, with implications for industrialisation, job creation, and service delivery.
In addition to meetings in Abuja, Diagana will travel to Kaduna where he will be received by Governor Uba Sani at the Kashim Ibrahim Government House.
While in Kaduna, he will tour World Bank-financed project sites to observe progress firsthand and interact with communities and beneficiaries of these interventions.
