By Ikugbadi Oluwasegun
Nigeria’s private capital inflows surged nearly twentyfold from about 300 million dollars in 2023 to almost 6 billion dollars this year as the country tries to turn recent macroeconomic stability into faster growth and more jobs.
That progress was the focus of talks between Finance Minister Taiwo Oyedele, Central Bank Governor Olayemi Cardoso and World Bank President Ajay Banga, on the sidelines of the IMF and World Bank Annual Meetings holding in Thailand.
Oyedele highlighted stronger growth and the rise in the tax-to-GDP ratio from around 7 percent to 12.5 percent, giving government more room to fund public investment without printing money.
The statement further notes that two sides also discussed using World Bank guarantees to unlock more private financing for infrastructure, with power and human capital flagged as top priorities.
