Nigeria Seeks Fairer Global Financial System, Unveils $78.5bn Investment Pipeline
Oru Leonard
Nigeria has called for a fairer global financial system that provides developing economies with affordable financing and greater opportunities for sustainable growth, while unveiling an investment pipeline worth US$78.5 billion at the 2026 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group in Bangkok, Thailand.
The Federal Government also urged international financial institutions to prioritise job creation as a key measure of economic growth, warning that technological advancements, particularly artificial intelligence (AI), could accelerate economic expansion without generating sufficient employment opportunities.
The Nigerian delegation, led by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, and the Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, presented the country’s economic reform outcomes and outlined strategies to translate macroeconomic stability into inclusive, job-rich growth.
In a statement issued on Saturday, October 17, 2026, the Federal Ministry of Finance said Nigeria showcased several economic indicators, including growth of approximately 4.4 per cent in the second quarter of 2026, four consecutive months of declining inflation, foreign reserves exceeding US$55 billion, a tax-to-GDP ratio of 12.5 per cent and public debt estimated at 36 per cent of gross domestic product.
A major highlight of Nigeria’s participation was the launch of Projects Nigeria, an investment initiative featuring 65 bankable projects valued at approximately US$78.5 billion.
The ministry said the initiative attracted expressions of interest from investors in Asia and Europe, signalling potential opportunities for international partnerships and private-sector investment in Nigeria’s economy.
The delegation also secured continued engagement with the World Bank Group on power and infrastructure financing through guarantee instruments, alongside ongoing technical support from the IMF in fiscal governance, transparency and statistical development.
Other key outcomes included commitments to deepen cooperation with the Japan International Cooperation Agency (JICA), the United States Treasury and the European Union.
Nigeria also concluded its chairmanship of the Group of 24 (G-24), during which it advanced calls for reforms to the international financial architecture, including a more quota-based IMF system, fairer credit-rating practices and reduced financing costs for developing countries.
Addressing the employment implications of emerging technologies, Oyedele warned that the global economy faces a significant challenge in creating enough jobs for its growing youth population.
According to the minister, approximately 1.2 billion young people are expected to enter the global labour market over the next 10 to 15 years, while the World Bank estimates that only about 400 million jobs may be available to accommodate them.
He cautioned that artificial intelligence could drive productivity and economic growth without necessarily delivering sufficient employment, stressing the need for governments and international financial institutions to place jobs at the centre of economic policy.
The minister called on the IMF and World Bank Group to assess economic performance not only through traditional macroeconomic indicators but also by examining the number and quality of jobs created.
“Stability was the first test. Growth that employs our people is the second,” Oyedele said.
On Nigeria’s economic policy direction, the minister reaffirmed the Federal Government’s commitment to maintaining its reform programme, ruling out a return to fuel subsidies and multiple exchange rates.
The position, he said, underscores the government’s intention to sustain its current policy direction while pursuing stronger economic growth and employment opportunities.
Nigeria’s participation in the Bangkok meetings focused on mobilising international investment, strengthening development partnerships and advocating reforms that would make the global financial system more responsive to the financing needs of developing economies.
The Federal Ministry of Finance said the engagements were aimed at converting the country’s economic reform gains into increased investment, infrastructure development and employment opportunities for Nigerians.
(FMOF Media)
