Independent Evaluation Group's (IEG's) country impact review (the report) examines if, from July 1998 through December 2007, International Finance Corporation (IFC): (i) successfully defined a relevant and appropriate strategy for helping Nigeria tackle its most pressing needs
(ii) provided investment and advisory services that were reflective of IFC's strategy
and (iii) achieved positive development results. IFC's strategies in Nigeria reflected the characteristics of IFC's process for development of country strategies jointly with the World Bank. These characteristics include: (i) poor integration with IFC's main strategy and budget process
(ii) loosely formulated country objectives and priorities in terms of sectors and products
and (iii) little or no resource allocation. As a result, IFC's strategies for Nigeria have not fulfilled their purpose of setting priorities, defining targets, and securing the human, organizational, and other resources required.