Nigeria, World Bank to strengthen bilateral ties – Minister


The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has disclosed that Nigeria and the World Bank are working towards strengthening mutually beneficial bilateral relations.

Edun made this known when he received the World Bank Managing Director of Operations, Ms. Anna Bjerde, who was on a two-day visit to the country.

It was gathered that Bjerde’s visit is part of the bank’s continued engagement with Nigeria on essential elements of the development agenda.

Edun, however, called for more support for the country while hoping that the multilateral institution would appreciate the country’s reform efforts.

He said, “The World Bank has been part of the progress report and we commend all their efforts.”

Earlier, Bjerde noted that she was in Nigeria to further the World Bank’s engagement on critical aspects of the country’s development agenda

She said that the World Bank had more than 30 projects in Nigeria, adding that her visit would afford her the opportunity also to take stock of the ongoing projects.

The Minister of Budget and Economic Planning, Sen. Atiku Bagudu appreciated the World Bank for its continuing support for Nigeria.

Bagudu said President Bola Tinubu’s administration embarked on one of the biggest reforms, stating that the 2024 budget would reduce the deficit for the first time in recent years.

The minister also called for more support from the World Bank.

Also speaking, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, commended the World Bank for its support to the country over the years.

Cardoso said that the World Bank’s support was not only in terms of dollars and cents but also through the huge knowledge, which would be beneficial to the country.

“We look forward to more collaboration,” Cardoso said.

In 2023, the World Bank in its report on Nigeria’s development update, urged President Bola Tinubu to sustain and fully implement his reforms, saying, the reforms had been “essential” but there was a need to “sustain and fully implement” them.