World Bank commends Nigeria as private capital inflows hit $6bn
The World Bank Group President, Ajay Banga, has commended Nigeria’s private capital inflows, which have risen to nearly $6 billion in 2026 from $300 million in 2023. According to the News Agency of Nigeria (NAN), Banga…
The World Bank Group, which provides financing and policy advice to developing economies, has periodically weighed in on Nigeria's economic trajectory since President Bola Tinubu's administration embarked on reforms including fuel subsidy removal and foreign exchange unification in 2023. Private capital inflows — investment from foreign and domestic private investors rather than government or aid sources — are closely watched as a gauge of investor confidence, since Nigeria has struggled for years to attract foreign direct investment amid currency volatility, policy unpredictability and security concerns.
Both Tribune Online and Vanguard cite World Bank Group President Ajay Banga crediting Nigeria's reform momentum for the jump in private capital inflows from roughly $300 million in 2023 to nearly $6 billion in 2026. Vanguard adds a tax-reform dimension, quoting fiscal policy reform committee chair Taiwo Oyedele on the tax-to-GDP ratio rising from 7% to 12.5%, a detail not mentioned in the Tribune report. Neither account specifies the methodology behind the capital-inflow figures, the sectors driving the surge, or how the numbers compare with inflows to other African economies.