News Release No. 2/2008/NGCO/AF R c Contacts:
In Washington: John Donaldson
(202) 473 1367)
jdonaldson@worldbank.org In Abuja: Obadiah Tohomdet
(09-3145269-75)
otohomdet@worldbank.org ABUJA, January 18, 2008 – The World Bank has commended efforts by Nigeria between 2003 and 2007 to improve the country’s macroeconomic performance, its economic reforms and anti-corruption work. The Bank notes the federal government’s commitment to the rule of law and due process, and support for the effectiveness of its anti-corruption agencies including the Independent Corrupt Practices and Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC). Ending a five-day visit to Nigeria, World Bank Africa Region Vice President Obiageli Ezekwesili noted Nigeria’s commitment to continuing reforms, maintaining macroeconomic stability, sustaining growth and translating the growth into tangible benefits for all Nigerians. She pledged the Bank’s support toward realizing these objectives. “Nigeria will benefit from an expanded policy and knowledge transfer,” Ezekwesili said. “It could also benefit from increased credit allocation within the next four years provided it continues to sustain macro and fiscal stability, strengthening governance and anti-corruption efforts at both federal and state levels.” Ezekwesili noted that “with prudent management of its own resources, Government can make a lot of difference in the lives of many ordinary Nigerians.” Ezekwesilicited the passage of the fiscal responsibility, procurement and tax reform law and the Nigeria Extractive Industries Initiative law as some of the key factors that would enhance good governance in the country. She noted the importance of effective implementation and expressed hope that these laws would be domesticated by states in the federation to ensure nationwide good governance. Ezekwesili agreed with President Yar' Adua’s observation that “corruption is a cancer stunting development of the country.” She called on the federal and state governments to further deepen reforms, show a strong commitment to improved governance standards, and to fight against corruption to achieve sustainable results in all sectors of the economy. She accepted the invitation of the president to help reform the power sector, with funding, but more importantly with technical assistance and policy advice to ensure a performing and sustainable sector. Ezekwesili, speaking on behalf of the World Bank, urged the president to introduce an institutional mechanism that would ensure good coordination in the sector and which could be held accountable for achieving these results. She commended the National Assembly for passing important legislation which will impact economic development, governance and the fight against corruption in the country. She did, however, call on the National Assembly to consider and pass the Freedom of Information bill which, according to the World Bank, could enhance the implementation of already enacted laws, strengthen governance and fight corruption in a systematic way. On the relationship between the World Bank and Nigeria, Ezekwesili told civil society members that, “We respond to the country’s agenda, and our assistance is aligned with Nigeria’s development strategy – the 7-Point Agenda and the NEEDS.” Tackling poverty and empowerment are among the priorities of Nigeria’s development and the World Bank is supporting effective programs for development at the community level. “We thank the World Bank for what it has done to our community,” said Adamu Ciroma, head of Danu, a hitherto inaccessible and remote hamlet in Niger State. Ciroma spoke during a field visit to a community driven project by Ezekwesili. “Before we were in darkness, now we are in the light and will be known all over the world. The school, borehole and culverts you helped us construct have really opened up this place and changed the community. It has made people from other villages to move to our village. We promise that our girls will be like the vice president.” “The visit and the appreciation expressed by beneficiary communities have strengthened our resolve as staff to continue to work in partnership with the country to ensure that development assistance translate into tangible results on the ground for the benefit of Nigerians,” said Galina Sotirova, Acting Country Director of the World Bank in Nigeria. During her visit, Ezekwesili noted that with prudent management of resources, government officials can make a lot of difference in the lives of many ordinary Nigerians. This is Ezekwesili’s first official visit to Nigeria since her appointment, last year, as Vice President of the World Bank in charge of the Africa Region. While in Nigeria, Ezekwesili met with President Umaru Musa Yar'Adua, the Economic Management Team, senior government officials, civil society members, World Bank staff, development partners, the Senate president, the Speaker of the House of Representatives and some key committee officials of the house. She also met with governors of Delta, Akwa Ibom and Bayelsa states on natural as well as oil resource management and governance issues. She also met with Lagos, Niger and Anambra state officials on development issues, People Living with HIV/AIDS (PLWAs), project team members and some beneficiaries of Bank assisted projects in Niger, Lagos and Nasarawa States. Lending and Non-lending Activities of the World Bank in Nigeria Presently, Nigeria accesses only interest free credit from the World Bank group payable in 30 to 40 years with a grace period of 10 years. Since 1999, the World Bank has partnered with Nigeria on 25 projects for water supply, power, transport, health, science and technology, primary and tertiary education, HIV/AIDS, rural development, private sector development as well as economic management and governance, worth US$2.6 billion International Development Association Credits. The World Bank Group plays an important role in knowledge-sharing, analysis and advisory assistance on policy issues. It is fully involved in Analytical and Advisory Activities (AAAs) to inform government project designs and policy achievements. This ensures that government designed development projects and programs are based on knowledge generated by intensive studies, research and analysis. Recent experiences have shown that Nigeria has benefited from such studies as Competitiveness and Growth, Poverty Assessment, Public Expenditure Management and a series of energy papers. Others are Investment Climate Program, Employment and Growth, Information Communication Technology as well as Maternal and Child Care. The World Bank has also continued to expand its program of economic and sector analysis as part of its efforts to strengthen policy dialogue and improve on the quality of its investment operations. The current Economic and Sector Work program has a strong focus on public expenditure, management and competitiveness and growth. It also has been paying growing attention to the regional integration agenda, poverty analysis, and trends in the social sector. Key proposed analytical studies for the next three years include a Fiscal Federalism study, an Agriculture Financing Review, an Agriculture Public Expenditure Review (PER), an Employment and Growth study, a Poverty Assessment and a Trade and Regional Integration study. The Bank further plans to provide assistance for federal and rural roads, Fadama and the Health, Commercial Agriculture and Growth Pole. # # # For more information please visit www.worldbank.org/nigeria Press Releases - Nigeria |
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