Economy: Edun, Cardoso, Others Begin Talks with Visiting World Bank MD

•Nigeria seeks more support

Ndubuisi Francis in Abuja

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; his Budget and Economic Planning counterpart, Senator Atiku Bagudu and Central Bank Governor, Dr. Olayemi Cardoso yesterday began talks with the visiting Managing Director, Operations of the World Bank,  Ms. Anna Bjerde, on how to advance Nigeria’s economic reforms.

Briefing journalists in Abuja, Bjerde, who arrived Nigeria on February 5, said she was in the country to further the World Bank’s engagement with Nigeria on critical aspects of the country’s development agenda, including macroeconomic and fiscal policy, energy access, digital infrastructure, and skills.

The World Bank, she said, has over 30 ongoing projects in Nigeria, adding that her visit would afford her the opportunity to also take stock of the projects.

According to Bjerde, her visit would help to further discussions on Nigeria’s economic reforms.

In his remarks, Edun said Bjerde’s visit was in continuation of the recent visit by the World Bank President, Ajay Banga to Nigeria.

While soliciting for more support for Nigeria from the Bretton Woods institution, Edun expressed the hope that the multilateral institution would appreciate the country’s reform efforts.

The CBN Governor, Cardoso also thanked the World Bank for its support for Nigeria and called for more.

Noting that the World Bank support was not only needed in terms of dollars and cents, he stated that the bank’s huge knowledge asset would be of benefit to Nigeria.

Cardoso stated that the apex bank was deeply appreciative of the global bank’s support in the knowledge economy, and solicited for more.

In his remarks, Bagudu expressed appreciation to the World Bank for its continuing support for Nigeria.

He noted that the Tinubu administration embarked on one of the biggest reforms, adding that the 2024 Budget is one that would reduce deficit for the first time in a long time.

He called for more support from the World Bank.

The visiting World Bank Managing Director of Operations would today participate in a meeting of Western and Central Africa Ministers of Finance co-hosted by Nigeria and the World Bank.

At the meeting, Bjerde would discuss the ambitious regional development priorities and how additional International Development Association (IDA) resources can further support countries to “leap forward” and attain sustainable growth, jobs, and development.