World Bank: Buhari asked us to focus on northern Nigeria - Bank President - OYA Magazine

World Bank: Buhari asked us to focus on northern Nigeria – Bank President

By on October 13, 2017

World Bank President Jim Yong Kim speaks at the opening of the annual World Bank-International Monetary Fund meetings in Washington.

The World Bank leader lamented the difficult terrain of the northeast, emphasizing that the Federal Government needs to prioritise its economic future.

The President of the World Bank Group, Jim Yong Kim, has said that President Muhammadu Buhari asked the bank to focus on the northern region of Nigeria.

Speaking at a press briefing in Washington DC, United States, Kim advised Buhari to invest in human capital, which he said will enhance economic growth.

He said, "You know, in my very first meeting with President Buhari he said specifically that he would like us to shift our focus to the northern region of Nigeria and we’ve done that.  Now, it has been very difficult. The work there has been very difficult.

"I think Nigeria, of course, has suffered from the dropping oil prices. I think things are just now getting better.  But the conversation we need to have with Nigeria, I think, is in many ways related to the theme that I brought to the table just this past week, which is investment in human capital.  The percentage of the Gross Domestic Product that Nigeria spends on healthcare is less than one percent."

The World Bank leader lamented the difficult terrain of the northeast, emphasizing that the Federal Government needs to prioritise its economic future.

"Despite that, there is so much turbulence in the northern part of the country, and there is the hit that was taken from the drop in the oil prices.  Nigeria has to think ahead and invest in its people. Investing in the things that will allow Nigeria to be a thriving, rapidly growing economy in the future is what the country has to focus on right now.

"Focusing on the northern part of Nigeria, we hope that as commodity prices stabilise and oil prices come back up, the economy will grow a bit more. But very, very much important is the need to focus on what the drivers of growth in the future will be."

ALSO READ: Nigeria to get $961M loan for education and economic recovery plan

Kim added that the Bank will invest in human capital in other parts of Africa in order to prepare the continent for the next phase of growth.

Source: pulse.ng
Link: World Bank: Buhari asked us to focus on northern Nigeria – Bank President

Comments

comments

About Dimeji Akinloye

Leave a Reply

Your email address will not be published. Required fields are marked *