The World Bank said Wednesday that it has committed over $11 billion in Nigeria at the federal government and sub-national levels in the last three and half years.
World Bank Country Director Mr Shubham Chaudhuri said this in a goodwill message at a three-day 2023 Cabinet Retreat for ministers, presidential aides, permanent secretaries and top government functionaries at the State House in Abuja.
“Although we are at the World Bank, we’re a development organisation and over the last three and a half, four years that I’ve been here, our board has committed over $11 billion in financing for the government, and our financing is meant to go government at both the federal and at the sub national levels. So we’re here to support your programmes, we take guidance from you.
“But even though we have the World Bank in our name, I hope you will think of us as more than a bank. I mean, I really hope that we will be able to earn your trust that we have something more to offer in the nature of solutions to help you think through and then implement the priorities, the focus areas that you’ve laid out by bringing in ideas and experience.
“Financing is only part of the solution. It’s really the ideas and the vision. So you have my commitment. I and the team, the entire World Bank across the globe, we’re here to support you on that. And I would also like to say that I feel particularly privileged to have been here in Nigeria these last four years, especially in the last few months at this critical juncture where Nigeria faced critical choice whether to continue muddling through business as usual with the risk of things falling apart growing by the day or have the courage to chart a new course, to take bold steps to really finally see Nigeria rise to its true potential,” he said.
The World Bank Country Director commended President Bola Ahmed Tinubu’s bold steps to chart a new course for Nigeria to provide the renewed hope agenda that he promised the citizens.
“Mr President from inaugural address, you made it very clear what your choice was. You’ve taken some incredibly bold steps, ones that very few leaders, if any, would have had the courage to chart this new course for Nigeria to provide that renewed hope. I think we all recognise how truly kind and remarkable that has been and that it has not been easy.
“In these last few months, the economy, society, the people, Nigerians have had to live through hard times. And Nigeria continues to be in a tender spot, but you stopped the hemorrhage.
“But now comes the time to rebuild, to recover. Please count on us, there will still be some incredibly hard choices and decisions that you and your cabinet will need to make. Please count on us to be there to help support you,” he said.