World Bank Calls for Job Creation Focus in Nigeria

The World Bank has called on Nigerian state governments to leverage the significant fiscal space created by recent economic reforms to improve job creation, public services, and living standards. This statement was made by World Bank Country Director for Nigeria, Mathew Verghis, during the presentation of the Nigeria Development Update (NDU) titled “Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities” in Abuja.

The report indicated that gross federation revenues rose by 69 percent in real terms from 2023 to 2025, while state revenues surged by about 93 percent. Despite this increase, the report noted that the focus has been more on economic infrastructure rather than human-capital development.

The share of capital expenditure in total state spending increased from 46 percent to 61 percent, with transport infrastructure seeing the most significant rise. The report also highlighted that while spending on health, education, and social protection increased, it did so at a slower rate compared to economic infrastructure.