The Honourable Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun has reaffirmed the government’s commitment to private-sector-led growth, as the World Bank today launched its latest Nigeria Development Update (NDU) themed Building Momentum for Inclusive Growth.
Edun described the Bank as a tremendous development partner, praising its technical support and concessional financing via the International Development Association. We’d like them to continue and to give us more of that to boost us on our way, he said.
The Minister highlighted progress on fiscal transparency and renewed investor interest across key sectors, stating, It is investment that grows the economy, creates high-quality jobs, and lifts Nigerians out of poverty in their millions.
The World Bank projected 3.6% growth in 2025, citing Nigeria’s strongest economic performance in a decade, improved revenue mobilisation, and rising foreign reserves. There is a lot to be positive about on Nigeria, said Acting Country Director Taimur Samad, while calling for continued monetary discipline to curb inflation.
The NDU is the Bank’s flagship economic report, published twice a year to support evidence-based policymaking.
As Nigeria builds momentum for inclusive growth, the government’s commitment to private-sector-led development and the World Bank’s support underscore a promising future for the country’s economy. With sustained investment and prudent policy decisions, Nigeria is poised to unlock its vast potential and drive sustainable growth.
Signed
Mohammed Manga FCAI
Director, Information and Public Relations
May 12, 2025
