The World Bank has stressed the need for Nigeria to maintain the momentum on its economic reforms in order to achieve inclusive, job-creating growth.
World Bank highlighted the country’s position as its largest portfolio in Africa, with commitments totalling around $17 billion.
The bank’s advice came as the Federation Account Allocation Committee (FAAC) disbursed a total sum of N1.578 trillion, as March 2025 Federation Account Revenue to the federal, state and local governments across the country.
The global development institution applauded Nigeria’s recent Gross Domestic Product (GDP) growth of 3.4 per cent — the strongest since 2014 — and commended the government’s progress in stabilising the economy and improving portfolio performance.
World Bank’s Vice President for Western and Central Africa, Ousmane Diagana, disclosed these when he led a high-level delegation of the bank to Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in Abuja, yesterday.
Diagana disclosed that the visit was to reaffirm support for President Bola Tinubu’s economic reform agenda and development priorities.
He called for faster implementation of social protection measures, particularly, targeted cash transfers.
