The World Bank Group says Nigeria and other economies in Sub-Saharan Africa are effectively tackling their economic challenges, including exchange rate crises.

In a report released yesterday, the bank said the management of the region’s economies has improved with the average score edging up to  3.2 in 2021 from 3.1 the previous year.

It said in the 2022 Country Policy and Institutional Assessment (CPIA) report  the development reflected improved monetary and exchange rate policies.

The report measures each country’s quality of policies and institutional frameworks, as well as the ability to support sustainable growth and poverty reduction from January to December 2021.

Nigeria was number 21 on the list, behind Benin and Senegal which achieved an average score of 3.7. Benin upgraded its CPIA score in 2021 from 3.6.

The overall average score for Sub-Saharan Africa’s International Development Association-IDA -eligible countries remained unchanged in 2021 at 3.1.

The overall score helps determine the size of the World Bank’s concessional lending and grants to low-income Sub-Saharan African countries,