In the face of Nigeria’s dwindling economy and security challenges,
World Bank has pledged to support Nigeria curb insecurity
as well of rehabilitate the Internally Displaced Persons, IDPs who
were mainly victims of the Boko Haram insurgents in the North-
east region.
The global Bank also showed concerned in the economic
growth and development of the country, saying it would assist
Nigeria in the diversification of its economy.
The assurances were the fallout of the meeting between the visiting
Managing Director and Chief Operating Officer of the World Bank,
Ms Sri Mulyani Indrawati and President Mohammadu Buhari at the
presidential Villa, Abuja on Wednesday.
Briefing State House Correspondents alongside the Minister of
Finance, Mrs. Kemi Adeosun after the meeting, Ms Indrawati said
also hailed President Buhari’s commitment to job creation, poverty
eradication and eradication of corruption.
Revealing that she had also met with some 5 governors, the World
Bank scribe added that the Bank was willing to key into the
objectives of the present administration.
She said: “I am here with our team to visit Nigeria, this is my first
visit to this country. It reminds me a lot about my own country in
Indonesia. This is a very short visit but very productive.
“This is a good opportunity for us to discuss with the government
to understand the challenges the Nigerian economy is facing just
like many other countries in the world which is now facing weak
global economy, low commodity price in goods and oil price,
challenge of climate change and insecurity. These are all the issues
that we discussed.
“We also see that Nigeria and the leadership of President
Muhammadu Buhari is now launching the objective of restoring
stability and security, the second one is creating jobs and
eradicating poverty, the third is fighting corruption.
“I think these are very commendable goals and we discussed with
the government about how we can support the law in order for the
government and its leadership to achieve the goals.
“We had the opportunity to meet with five governors of different
states in order to discuss more on our programmes to support with
the North-East region, especially dealing with Internally Displaced
People and how to restore both the livelihood of the people with the
development programme. So we discussed both in terms of what is
the area of priority, the mode of engagement and the operational
details of how this is going to be used in the most effective way.
“We also discussed more in terms of the need to diversify the
economy away from oil. We also discussed on how to improve the
fiscal side with the minister of finance under her
leadership and try to improve on the revenue side, whether to
improve collection tax as well as to fight against inefficiency and
“That is one of the areas which is commendable. We would like to
support all these objectives in order for Nigeria to have a healthy,
stronger and transparent budget, which can be very useful and
effective in addressing the issue of poverty and creating a healthier
and inclusive growth.
“We also discussed how to support the management of natural
resources, especially the oil, which I think Nigeria has its own
reform agenda to improve the governance and management of the
oil sector.
“I think that is important goal which is being launched by the
Federal Government.
That is the area that i think we would like to support in any way we
could so that it can be delivered, in terms of a healthy sector, good
governance as well as effectively supporting the need of the people
and the economy.
“We had time to discuss with the President and the Vice President
about the need of a wider economic agenda. We discussed about
the agricultural sector, infrastructure, but also the need to pursue
and continue doing a very difficult reform. This is a time which
Nigeria is now facing. It is not easy, there is a lot of policy choices
that needs to be done.
“We would like to know how we can help Nigeria to make the very
important decisions, whether on micro economic policy and other
sectoral policy that will make this economy to move forward to
become a strong middle income country to have a much more
inclusive growth, to have a vibrant economic activity and creating
job and eradicating poverty.
“So we discussed a lot of all the policy reforms that the
government is now doing and what is the policy choices as well as
the difficulties that the government is now facing.
“The last thing I would like to add is that the President the has a
very heavy attention on infrastructure and agriculture, that is one
area we would also like to support with our own idea from the
private sector arm of the world bank.”


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