World Bank to support Nigeria on economic growth

The World Bank has indicated its willingness to provide technical support for Nigeria in critical areas to facilitate her economic growth and development.

The World Bank’s Vice-President for Africa, Mr Hafez Ghanem, who gave the indication in Abuja during a discussion with the Minister of Budget and National Planning, Udo Udoma, said the lender accorded Nigeria top priority in its considerations.

He said the bank would be willing to provide technical support for Nigeria in the areas of the Economic Recovery and Growth Plan mid-term review, power sector reform, Public-Private Partnerships as well as population management.

The World Bank is also disposed to providing technical support on the ERGP delivery, performance tracking and reporting, capacity building for sector officials and economic modelling for policy analysis and forecasting, Ghanem stated, adding that the bank would increase its support for Nigeria’s Social Investment Programme.

Udoma stated that it would be appreciated if the World Bank vice-president could help designate a special session during the forthcoming International Monetary Fund/World Bank meetings in Indonesia to enable Nigerian representatives speak to participants about the ERGP so as to be able to attract more investments into the country to further facilitate the achievements of the objectives and targets of the plan.

Also speaking, the Minister of State for Budget and National Planning, Mrs Zainab Ahmed, appreciated the bank’s assistance in the area of security, social investment and the cash transfer programme; and asked for further support, especially in the management of Nigeria’s growing population and inclusive growth.

According to her, if Nigeria succeeds in the Sustainable Development Goals, it will make a major contribution to the continent being able to meet the targets set for Africa.