Nigeria, World Bank, and Others Forge Path for Economic Transformation and Job Creation

A collaborative effort between Nigeria, the World Bank, and other stakeholders has culminated in a strategic roundtable for economic transformation held in Abuja. Ministers of finance from 12 countries in West and Central Africa, alongside representatives from the World Bank, convened to explore avenues for sustainable growth, job creation, private sector mobilization, and economic transformation in the region.

The consensus reached at the roundtable underscores the shared ambition to realize tangible development gains that significantly improve the lives of citizens across West and Central Africa. Key priorities identified include enhancing human capital, fostering job creation through private sector development, ensuring food security, and expanding financial inclusion while bolstering safety nets.

A communique issued at the conclusion of the meeting highlighted the critical importance of investing in resilient infrastructure, particularly in areas such as electricity access, digitalization, and transportation connectivity. These investments are seen as crucial for promoting economic growth, social inclusion, and fiscal stability, with a strong emphasis on leadership and significant private sector involvement.

Amidst multiple internal and external challenges faced by African countries, achieving economic transformation remains within reach but requires creating conducive conditions to leverage opportunities effectively. The ongoing evolution of the World Bank is positioned to support this endeavor, enhancing its capacity to assist the people of Western and Central Africa.

The roundtable laid a solid foundation for future collaborative efforts, with participants demonstrating unity and commitment towards shared prosperity in the region. The meeting sets the stage for further dialogue and collaboration aimed at improving the lives of citizens across West and Central Africa.

Key attendees included representatives from Benin, Cabo Verde, Chad, Ghana, Guinea, Guinea-Bissau, Nigeria, Senegal, Sierra Leone, Mauritania, and Togo, alongside high-ranking officials from the World Bank. The engagement signals a concerted effort to drive economic transformation and job creation, reflecting a shared vision for sustainable development in the region.


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