The World Bank has signalled a shift in its development approach in Nigeria, placing stronger emphasis on private sector participation as it moves towards a more results-driven funding model.
Speaking during a visit to Gombe State, the World Bank Country Director for Nigeria, Matthew Verghis, explained that the institution is repositioning its support framework to attract private investment and improve delivery outcomes. According to him, the new direction will prioritise efficiency, accountability, and measurable impact across sectors.
He said the World Bank has developed a Country Partnership Framework that will “shift towards results-based financing, better coordination among ministries, departments, and agencies, and increased private sector involvement.” This marks a departure from the traditional model where projects are largely government-driven, with limited input from private investors.
Verghis noted that integrating private sector participation is expected to unlock additional funding, drive innovation, and ensure that development projects are more sustainable in the long term. He stressed that relying solely on public funding is no longer sufficient to meet Nigeria’s growing infrastructure and social development needs.
“The project fund is evenly divided, but the performance of Gombe is different,” he said, pointing to the need for efficiency and stronger execution as key factors that will attract private sector confidence. He added that states that demonstrate accountability and results are more likely to benefit from increased investment under the new model.
The World Bank also indicated that upcoming interventions will focus on critical areas such as renewable energy and early childhood development, sectors where private sector collaboration is expected to play a significant role. These initiatives are designed to improve access to energy, reduce child mortality, and support better physical and mental development outcomes for children.
By aligning funding with measurable results and encouraging private investment, the World Bank aims to strengthen project delivery, reduce inefficiencies, and ensure that development programmes create lasting economic value. The approach is expected to push both federal and state institutions to improve coordination and performance, as funding becomes increasingly tied to verified outcomes rather than disbursement alone.
