The World Bank has dedicated to strengthening its partnership with Nigeria, geared toward bettering the nation’s Human Capital Index.
The dedication was made by World Bank officers throughout a digital high-level roundtable on the sidelines of the 2025 World Bank/IMF Spring Conferences, the place Vice President Kashim Shettima known as for stronger worldwide collaboration to advance Nigeria’s Human Capital Growth 2.0 (HCD 2.0) technique.
This was disclosed in an announcement launched by Stanley Nkwocha, Senior Particular Assistant to the President on Media & Communications (Workplace of the Vice President), on April 26, 2025.
Enhancing Nigeria’s Human Capital Index
Recall that President Bola Ahmed Tinubu, in March 2025, launched the Nigerian Youth Academy (NiYA) as a part of the federal authorities’s efforts to handle Nigeria’s low Human Capital Index rating, unemployment, and different structural limitations.
Vice President Shettima formally launched NiYA on the Council Chambers of the Presidential Villa in Abuja.
In accordance with Nairametrics, Nigeria’s unemployment fee dropped to 4.3% in Q2 2024, down from 5.3% in Q1 2024.
- Throughout Friday’s assembly, the World Bank assured Vice President Shettima of a stronger partnership shifting ahead.
- In accordance with the presidential assertion, the World Bank proposed senior-level stakeholder engagement in areas of the bank’s intervention.
“The World Bank representatives on the assembly dedicated to strengthening the bank’s partnership with Nigeria to enhance the nation’s Human Capital Index and proposed senior-level stakeholder engagement to determine optimum areas for technical assist,” the assertion partly reads.
Extra Insights from Shettima
Nigeria’s HCD 2.0 programme is designed to raise the Human Capital Index (HCI) and equip the nation to face each nationwide and world challenges, together with local weather change and digital transformation.
- The Vice President famous that the assembly was pushed by the pressing must put money into Nigeria’s folks and the popularity that true nationwide wealth lies not in pure assets however in human potential.
“This assembly, for us, is not only one other merchandise on our world agenda. It’s a continuation of a journey whose beginnings I had the privilege of witnessing about seven years in the past. True nationwide wealth is discovered not in pure assets, however in human potential.
“We’ll provide our HCD 2.0 Technique the political backing it deserves to be the precedence of our nation, and His Excellency, President Bola Ahmed Tinubu, has by no means wavered on this,” he assured.
- The session featured key stakeholders from the World Bank, together with Govt Director Zainab Shamsuna Ahmed; Regional Director for Human Growth in Western and Central Africa, Trina Haque; Senior Social Safety Specialist and Regional Job Staff Chief for Africa West & Central, Tina George; and Chief Economist for Human Growth on the World Bank Group, Norbert Shady.
- Vice President Shettima emphasised that below HCD 2.0, six precedence indicators from the well being, schooling, and labor pressure sectors have been chosen as “fast wins” to information coverage interventions and monitor measurable progress.
“We’ll proceed to carry ourselves accountable and press ahead towards our daring objective to raise Nigeria among the many high 80 nations in Human Capital Index rankings,” he stated.
Moreover, Senator Shettima known as on the World Bank and different growth companions to assist the supply of disaggregated, state-level HCI information to allow extra focused interventions.
He harassed the necessity for fairness and inclusiveness within the implementation of the HCD 2.0 technique.
“We’re leaving no sub-national entity in Nigeria behind. Some states have already set a template for others by localizing HCD methods to replicate their folks’s distinctive wants whereas aligning them with the nationwide technique.”
He reaffirmed the Tinubu administration’s dedication to inserting human potential on the core of nationwide growth.
A Backdrop of International Uncertainty
The conferences occurred amid heightened world uncertainty, pushed by rising geopolitical tensions, persistent inflation, and slowing world financial development.
Nigeria seized the chance to align with world coverage frameworks whereas highlighting its homegrown methods below the Renewed Hope Agenda.
The Nigerian delegation on-site met with key stakeholders, together with management from the World Bank, IMF, Worldwide Finance Company (IFC), and the European Bank for Reconstruction and Growth (EBRD).
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