The World Bank has appointed seasoned economist Matthew Verghis as its new Country Director for Nigeria, with the appointment officially taking effect from July 1, 2025. He succeeds Ndiame Diop, who has taken on a new role within the global financial institution.
Verghis, who brings more than two decades of experience in development policy and economic strategy, will now oversee the World Bank’s expansive operations in Nigeria one of its largest country portfolios globally. His mandate includes steering development initiatives and strengthening partnerships with government bodies, civil society organisations, and other key stakeholders in Nigeria’s development landscape.
A national of India, Verghis joined the World Bank in 1999 and has held a variety of leadership positions across multiple regions including Africa, East Asia, Europe, and Central Asia. Prior to this appointment, he served as Regional Practice Director for Prosperity in South Asia, operating out of the World Bank’s headquarters in Washington, D.C.
Speaking on his new role, Verghis acknowledged the urgency and potential of the work ahead.
“This is a critical moment for Nigeria’s development journey,” he said. “I am honoured to take on this role and to work alongside the government and people of Nigeria. There is real potential for transformative growth that can improve lives, create jobs, and expand opportunities for all.”
Verghis holds both a Master’s and PhD in Economics from the University of Notre Dame in the United States. Over the course of his career, he has authored several publications on key economic issues, including growth, poverty reduction, fiscal reform, and labour market dynamics.
His appointment comes at a time when Nigeria continues to navigate persistent economic challenges, including high inflation, unemployment, and weak service delivery systems. The World Bank’s operations in the country currently span critical sectors such as education, health, infrastructure, and social protection.
As Country Director, Verghis will be tasked with overseeing federal and state-level projects, ensuring that the Bank’s initiatives are aligned with Nigeria’s development goals. The World Bank’s engagement strategy remains focused on supporting reforms and catalysing inclusive, sustainable economic growth.
