Edun, Cardoso Seek Increase In World Bank Support for Nigeria

Mr. Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, has called for more support from the World Bank for Nigeria, expressing hope that the multilateral institution will appreciate the reforms conducted by the country.

Mr Edun, who received the World Bank’s Managing Director of Operations, Ms Anna Bjerde, said the country and the World Bank were working toward strengthening mutually beneficial bilateral relations.

Ms Bjerde is in Nigeria on a two-day visit in furtherance with the Bretton-Wood based bank’s engagement with the on critical aspects of the development agenda.

He said the President Bola Tinubu-led administration has carried out two core policies including the removal of the fuel subsidy and the harmonisation of the Naira as recommended by the lender.

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

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

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

He said that the World Bank’s support was not only in terms of Dollars and cents, but also through the knowledge resources, which would be beneficial to the country, adding that the country was looking forward to more collaboration.

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

The Minister of Budget and Economic Planning, Mr Atiku Bagudu, expressed appreciation to the World Bank for its continuing support for Nigeria.

He stated that President Tinubu’s administration embarked on one of the biggest reforms, adding that the 2024 budget would reduce deficits for the first time in recent years.