On Monday, World Bank Group revealed that it is excited with Nigeria’s growth and satisfied with the economy’s performance.
This was contained in a statement by the bank, after the conclusion of a visit to Nigeria by 10 Executive Directors of the bank from May 9 to 12.
The Executive Directors held discussions with the Vice President of Nigeria, the Minister of Finance and Governors of Adamawa, Bauchi, Borno, Gombe, Edo, Lagos, Taraba and Yobe, other senior government officials.
The Bank said:“Our visit to Nigeria was to get a better understanding of the country, assess the World Bank’s interventions on the ground, and support opportunities that will keep the country on a path of sustained development.
“We commend Nigeria’s implementation of its new Economic Growth and Recovery Plan (EGRP) and the Power Sector Recovery Plan (PSRP), both of which are important for regional integration.
“It will also ensure trade and capital flows, which will ultimately lead to greater growth.
“They also had an interactive meeting with private sector executives, which highlighted the need to sustain business reforms and provide affordable and reliable power to improve the living standards of all Nigerians.
“The Executive Directors observed that Nigeria continues to implement institutional policy reforms for restoring macroeconomic resilience and growth across sectors with support from the World Bank Group.
“They reiterated the World Bank Group’s commitment to supporting Nigeria’s growth in a way that is inclusive, job enhancing, and reduces poverty and inequality.
“Critical to this inclusive growth objective is reforming the power sector, boosting critical investments in human development, and mobilising finance for development by creating a conducive environment for private sector participation.”