Minister of Finance and Coordinating Minister for the Economy, Olawale Edun. Image:punchng.com
World Bank and Nigeria will improve its bilateral relations—Edun.
According to Mr. Wale Edun, the Coordinating Minister of the Economy and Minister of Finance, Nigeria and the World Bank are attempting to improve their mutually beneficial bilateral ties.
When Edun welcomed Ms. Anna Bjerde, the Managing Director of Operations for the World Bank, who was in the nation for two days, he made this known.
It was learned that Bjerde’s visit is a component of the bank’s ongoing work with Nigeria on crucial development agenda items.
Edun, though, advocated for increased assistance for the nation while holding out hope that the global organisation would recognise the nation’s reform initiatives.
“We applaud all of their efforts, and the World Bank is included in the progress report,” he stated. Bjerde had earlier stated that her purpose for being in Nigeria was to increase World Bank involvement in crucial areas of the nation’s development strategy.
The speaker stated that the World Bank was involved in over thirty projects in Nigeria and that she will have the chance to assess the current programmes during her visit.
Sen. Atiku Bagudu, Minister of Budget and Economic Planning, expressed gratitude to the World Bank for its ongoing assistance to Nigeria.
According to Bagudu, one of the largest reforms was started by President Bola Tinubu’s administration, which declared that the 2024 budget would lower the deficit for the first time in recent memory.
The minister also demanded that the World Bank provide additional assistance. Speaking as well, Olayemi Cardoso, the governor of the Central Bank of Nigeria, praised the World Bank for its long-term assistance to the nation.
Cardoso stated that the World Bank’s assistance went beyond financial contributions, citing its vast knowledge base as an asset to the nation. “We anticipate further cooperation,” Cardoso declared.
President Bola Tinubu was advised to continue and completely implement his reforms by the World Bank in 2023 in their report on Nigeria’s development update.
The study stated that while the reforms had been “essential,” they needed to be “sustain and fully implemented.”