The World Bank has committed to strengthening its partnership with Nigeria, aimed at improving the country’s Human Capital Index.
The commitment was made by World Bank officials during a virtual high-level roundtable on the sidelines of the 2025 World Bank/IMF Spring Meetings, where Vice President Kashim Shettima called for stronger international collaboration to advance Nigeria’s Human Capital Development 2.0 (HCD 2.0) strategy.
This was disclosed in a statement released by Stanley Nkwocha, Senior Special Assistant to the President on Media & Communications (Office of the Vice President), on April 26, 2025.
Improving Nigeria’s Human Capital Index
Recall that President Bola Ahmed Tinubu, in March 2025, launched the Nigerian Youth Academy (NiYA) as part of the federal government’s efforts to address Nigeria’s low Human Capital Index ranking, unemployment, and other structural barriers.
Vice President Shettima officially launched NiYA at the Council Chambers of the Presidential Villa in Abuja.
According to Nairametrics, Nigeria’s unemployment rate dropped to 4.3% in Q2 2024, down from 5.3% in Q1 2024.
- During Friday’s meeting, the World Bank assured Vice President Shettima of a stronger partnership moving forward.
- According to the presidential statement, the World Bank proposed senior-level stakeholder engagement in areas of the bank’s intervention.
“The World Bank representatives at the meeting committed to strengthening the bank’s partnership with Nigeria to improve the country’s Human Capital Index and proposed senior-level stakeholder engagement to identify optimal areas for technical support,” the statement partly reads.
More Insights from Shettima
Nigeria’s HCD 2.0 programme is designed to elevate the Human Capital Index (HCI) and equip the nation to face both national and global challenges, including climate change and digital transformation.
- The Vice President noted that the meeting was driven by the urgent need to invest in Nigeria’s people and the recognition that true national wealth lies not in natural resources but in human potential.
“This meeting, for us, is not just another item on our global agenda. It is a continuation of a journey whose beginnings I had the privilege of witnessing about seven years ago. True national wealth is found not in natural resources, but in human potential.
“We will offer our HCD 2.0 Strategy the political backing it deserves to be the priority of our nation, and His Excellency, President Bola Ahmed Tinubu, has never wavered on this,” he assured.
- The session featured key stakeholders from the World Bank, including Executive Director Zainab Shamsuna Ahmed; Regional Director for Human Development in Western and Central Africa, Trina Haque; Senior Social Protection Specialist and Regional Task Team Leader for Africa West & Central, Tina George; and Chief Economist for Human Development at the World Bank Group, Norbert Shady.
- Vice President Shettima emphasized that under HCD 2.0, six priority indicators from the health, education, and labor force sectors have been selected as “quick wins” to guide policy interventions and track measurable progress.
“We will continue to hold ourselves accountable and press forward toward our bold goal to elevate Nigeria among the top 80 countries in Human Capital Index rankings,” he said.
Furthermore, Senator Shettima called on the World Bank and other development partners to support the availability of disaggregated, state-level HCI data to enable more targeted interventions.
He stressed the need for equity and inclusiveness in the implementation of the HCD 2.0 strategy.
“We are leaving no sub-national entity in Nigeria behind. Some states have already set a template for others by localizing HCD strategies to reflect their people’s unique needs while aligning them with the national strategy.”
He reaffirmed the Tinubu administration’s commitment to placing human potential at the core of national development.
A Backdrop of Global Uncertainty
The meetings occurred amid heightened global uncertainty, driven by rising geopolitical tensions, persistent inflation, and slowing global economic growth.
Nigeria seized the opportunity to align with global policy frameworks while highlighting its homegrown strategies under the Renewed Hope Agenda.
The Nigerian delegation on-site met with key stakeholders, including leadership from the World Bank, IMF, International Finance Corporation (IFC), and the European Bank for Reconstruction and Development (EBRD).
