The World Bank has appointed Mathew Verghis as its new Country Director for Nigeria, with his tenure beginning on July 1, 2025.
He takes over from Ndiame Diop, who has transitioned into a new leadership role within the organisation.
Verghis, an Indian economist with over 25 years of global experience, most recently served as the Regional Director for Equitable Growth, Finance and Institutions in South Asia, based in Washington, D.C.
“This is a critical moment for Nigeria’s development journey,” said Mr. Verghis. “I am honoured to take on this role and to work alongside the government and people of Nigeria…”
As Country Director, Verghis will manage Nigeria’s portfolio, which is the largest for the Bank in Africa and one of the biggest worldwide. His focus will include economic reform, job creation, infrastructure development, and reducing poverty through strategic financing and policy support.
The World Bank has recently deepened its support for Nigeria, including:
A $2.25 billion loan to aid fiscal and power sector reform
A $65 million boost to the SPESSE initiative aimed at education and human capital development
Ongoing discussions through IFC to attract private sector investment via PPP frameworks
A $10.5 million grant is also in preparation to upgrade the Central Bank of Nigeria’s digital payments capacity through the Finance for Development Multi-Donor Trust Fund.
Verghis holds advanced degrees in Economics from the University of Notre Dame, and his appointment arrives amid sweeping reforms aimed at stabilizing Nigeria’s economy and boosting investor confidence.
