The World Bank has appointed Matthew Verghis as its new Country Director for Nigeria, effective July 1, 2025.
Verghis succeeded Ndiame Diop, who has assumed a new role within the institution. With over 25 years of experience in development economics, public finance, and policy reform, Verghis is well-equipped to lead the Bank’s operations in Nigeria.
Verghis, an economist with over 20 years of experience in development policy, will lead the Bank’s operations in Nigeria.
His role includes overseeing development initiatives and managing partnerships with the Nigerian government, civil society, and other development stakeholders.
A national of India, Verghis joined the World Bank in 1999 and has held several senior positions.
He has worked in various regions including Africa, East Asia, Europe, and Central Asia. Before assuming his current role, he served as Regional Practice Director for Prosperity in South Asia, operating out of the Bank’s headquarters in Washington, D.C.
In a statement following the announcement, Mr Verghis acknowledged the timing of his appointment.
“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,” he said.
His academic background includes a Master’s and a PhD in Economics from the University of Notre Dame in the United States.
He has authored several publications focusing on issues such as economic growth, poverty, fiscal policy, and labour markets.
Nigeria remained one of the World Bank’s largest country portfolios, with ongoing support in sectors including education, infrastructure, health, and social protection.
Verghis stepped into the role at a time when the country continues to grapple with a range of economic challenges, including high inflation, unemployment, and the need for improved service delivery.
The World Bank’s engagement in Nigeria is structured around supporting government reforms and helping to accelerate inclusive economic growth.
As Country Director, Verghis will be responsible for managing a portfolio that encompasses both federal and sub-national projects, with a focus on outcomes that align with Nigeria’s development priorities.
