By JAMES AKPANDEM
The World Bank has indicated that it is willing to provide technical support to Nigeria in critical areas to facilitate the country’s economic growth and development.
The Bank’s Vice President for African Region, Mr. Hafez Ghanem, who gave the indication in Abuja during a discussion with the Minister of Budget and National Planning, Senator Udoma Udo Udoma, said the World Bank accords Nigeria top priority in its considerations.
Mr Ghanem said the Bank will be willing to provide technical support for Nigeria in the areas of the Economic Recovery and Growth Plan (ERGP) Mid-term Review, Power Sector Reform, Public Private Partnerships (PPPs), as well as population management.
The World Bank was also disposed to providing technical support on ERGP delivery, performance tracking and reporting, capacity building for sector officials and economic modelling for policy analysis and forecasting. Mr. Ghanem also pledged that the Bank will increase its support for Nigeria’s Social Investment Programme.
The Vice President added that the World Bank is committed to supporting Nigeria’s economic recovery and growth. Indeed, he asserted that given the relative size of the Nigerian economy, it would be difficult for Africa, as a whole, to grow if Nigeria is not growing.
The World Bank chief reiterated that he was in Nigeria to discuss with relevant Nigeria officials as regards the areas in which Nigeria would like to receive additional support from the Bank as the Bank has an interest in the success of all its member countries.
While acknowledging that the current administration in Nigeria has shown commendable commitment in growing the economy, Mr Ghanem pledged that he would help to arrange for Nigeria to have an opportunity to speak about its economic progress at the annual meetings of the World Bank/International Monetary Fund (WB/IMF) scheduled for later this year in Indonesia.
While receiving Mr. Ghanem, the Minister told him that the ERGP is Nigeria’s medium term plan (2017 – 2020) that articulates government’s vision for the country and also lays the foundation for its long term economic growth.
