Nigeria’s private capital inflows have risen nearly 20-fold to almost six billion dollars in 2026 from approximately 300 million dollars in 2023, according to World Bank Group President Ajay Banga.

Banga disclosed this on Monday during a meeting 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, on the sidelines of the 2026 International Monetary Fund (IMF) and World Bank Group Annual Meetings in Bangkok, Thailand.

He commended Nigeria’s progress in attracting private investment, describing the increase in capital inflows as an indication of growing investor interest in the economy.

The discussions focused on how the country could translate macroeconomic stability into faster economic growth, increased private investment and stronger domestic revenue generation.

The meeting also explored opportunities for Nigeria to leverage World Bank guarantee instruments to unlock infrastructure financing and attract additional private capital into the domestic economy.

Oyedele highlighted improvements in Nigeria’s economic performance and disclosed that the country’s tax-to-Gross Domestic Product (GDP) ratio had increased from approximately seven per cent to 12.5 per cent.

He said the improvement had strengthened the government’s capacity to finance public investment without resorting to deficit monetisation.

The minister noted that the government was working to consolidate the gains of its economic reforms and create conditions for sustained investment, job creation and improved living standards.

The engagement formed part of the Federal Government’s broader efforts to deepen cooperation with international financial institutions and mobilise funding for infrastructure and other productive sectors.

The World Bank’s engagement with Nigerian officials also underscored the importance of ensuring that improvements in macroeconomic indicators translate into stronger economic activity and broader development outcomes.

The government is seeking to attract more private investment while improving domestic revenue mobilisation to support public spending and reduce reliance on deficit financing.

The discussions are expected to inform further engagement on investment guarantees, infrastructure financing and measures to sustain Nigeria’s economic reform programme.