In order to boost the country’s economy, the Federal Government has recognized the World Bank’s assistance and collaboration.
Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, was said to be dedicated to growth led by the private sector and less dependence on outside loan finance.
Mohammed Manga, the Ministry’s spokesperson, said Edun made this claim at a Monday meeting with Zainab Shamsuna Ahmed, the Executive Director of the World Bank.
A larger plan to use funding sources other than conventional multilateral loans was the basis for the discussion.
Edun emphasised the government’s emphasis on creating a business-friendly climate that draws in sustainable investments, while also applauding the World Bank’s contribution to Nigeria’s development.
Ahmed commended Nigeria’s macroeconomic reforms, which have increased investor confidence and budgetary stability. Ahmed was previously Nigeria’s Minister of Finance.
She cited recent financial reforms at the World Bank that have increased its lending capacity and made an extra $150 billion accessible over the next ten years.
One of the main topics of conversation was Nigeria’s involvement in Mission 300, the World Bank project to give 300 million Africans access to power.
Edun emphasized that enhanced electricity infrastructure was essential for industrial growth, economic expansion, and private sector competitiveness while reaffirming Nigeria’s commitment to the program.
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He underlined President Bola Tinubu’s continued emphasis on fortifying Nigeria’s economic base, lowering reliance on foreign borrowing, and guaranteeing sustained, private-sector-led growth.
