Verghis succeeds Dr. Ndiame Diop, who has taken up a new role within the World Bank. The appointment comes at a time when Nigeria faces both significant challenges and promising opportunities—from addressing poverty and unemployment to fostering sustainable economic growth and improving resilience against external shocks.
An Indian national with a career spanning over two decades at the World Bank, Verghis brings a wealth of experience in economic policy and development. He joined the Bank in 1999 and has held senior leadership positions across Africa, East Asia, Europe, and Central Asia. Prior to this appointment, he served as Regional Practice Director for Prosperity in the South Asia Region, operating out of Washington, D.C.
The World Bank’s statement describes Verghis as a seasoned economist with a strong record of delivering results in diverse settings. He holds an M.A. and Ph.D. in Economics from the University of Notre Dame in the United States and has published extensively on topics such as economic growth, fiscal policy, labour markets, and poverty reduction.
In accepting the new role, Verghis highlighted the urgency and importance of Nigeria’s development path.
“I am honoured to take on this role and to work alongside the government and people of Nigeria,” he said. “There is real potential for transformative growth that can improve lives, create jobs, and expand opportunities for all. I’m also excited to experience firsthand the rich culture and incredible energy of Nigeria.”
As Country Director, Verghis will be responsible for overseeing the World Bank’s operations in Nigeria. This includes managing the institution’s support for a broad range of development initiatives, strengthening partnerships with government agencies, civil society organisations, and other development partners, and aligning efforts toward shared goals of poverty reduction and inclusive growth.
The World Bank regards Nigeria as a critical partner in its wider strategy for Sub-Saharan Africa, given the country’s size, economic potential, and influence in the region. Under Verghis’s leadership, the Bank aims to deepen its engagement, supporting reforms and investments that can deliver tangible benefits to millions of Nigerians and drive sustainable development in the years ahead.