Nigeria’s Private Capital Inflows Climb to Nearly $6 Billion as World Bank Commends Reforms

Nigeria’s private capital inflows have risen from $300 million in 2023 to nearly $6 billion in 2026, a substantial increase that has earned commendation from World Bank Group President Ajay Banga and placed investment mobilisation among the key issues in the country’s economic engagement with international development institutions.

Banga gave the commendation during a meeting on Monday in Bangkok with the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, and the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso. The meeting took place on the sidelines of the 2026 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group.

The discussions examined how Nigeria could use World Bank guarantee instruments to unlock infrastructure financing and attract additional private capital into the domestic economy. Banga also commended the country’s reform progress, with the meeting focusing on how improved macroeconomic stability could support faster growth, stronger private investment and increased domestic revenue.

Oyedele disclosed that Nigeria’s tax-to-GDP ratio had increased from approximately seven per cent to 12.5 per cent. He said the improvement gives the government greater capacity to finance public investment without resorting to deficit monetisation.

The minister identified power infrastructure and human capital development as priorities for sustained public investment, citing their importance to business competitiveness, productivity and job creation. He said the engagement formed part of the Federal Government’s effort to consolidate reform gains and attract fresh investment through partnerships with development institutions.

Participants also stressed the need to improve the efficiency of public spending so that government expenditure produces measurable economic and social benefits. Nigeria’s priority, Oyedele said, is to turn improving economic fundamentals into productive investments, employment opportunities and better living standards for citizens.