Nigeria Pushes for Cheaper Development Finance at IMF–World Bank Meetings

Nigeria’s delegation used the IMF and World Bank Group Annual Meetings in Bangkok to call for a fairer global financial system, more affordable development funding and faster resolution of sovereign debt crises. The report said Taiwo Oyedele led discussions as G-24 chairman, while IMF and World Bank leaders commended Nigeria’s role in the talks. It also cited a meeting with World Bank officials that highlighted Nigeria’s economic reform efforts and reported growth in private capital inflows. Nigeria argued that high debt-servicing costs are limiting investment, job creation and inclusive growth across developing economies. The delegation also called for stronger revenue mobilisation, less public waste and policies that protect vulnerable households from excessive tax burdens. The test for Nigeria remains whether reforms, investment inflows and international partnerships will produce lower living costs, better jobs and stronger purchasing power for citizens.

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