BUHARI EXPOSED!!! AS HE ASKED WORLD BANK PRESIDENT TO FOCUS ON NORTHERN NIGERIA,WHILE ARMY OPERATION PYTHON DANCE SHOULD FOCUS ON EASTERN NIGERIA...SEE
BUHARI EXPOSED!!! AS HE ASKED WORLD BANK PRESIDENT TO FOCUS ON
NORTHERN NIGERIA,WHILE ARMY OPERATION PYTHON DANCE SHOULD FOCUS ON EASTERN NIGERIA...SEE
Christian Rowland writing for ODOGWU MEDIA...The President of the World Bank
Group, Jim Yong Kim, said on Thursday that the bank had concentrated on the
northern region of Nigeria in line with President Muhammadu Buhari’s request.
Kim and the Managing Director,
International Monetary Fund, Christine Lagarde, who spoke at separate press
conferences in Washington DC, United States, also advised Buhari to invest in
things that would enhance economic growth.
Kim 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 an investment in human capital. The percentage of the Gross
Domestic Product that Nigeria spends on healthcare is less than one percent.”
He added, “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.”
Kim also said, “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.”
According to the World Bank boss,
the bank will invest in human capital in other parts of Africa in order to
prepare the continent for the next phase of growth.
Lagarde, in her remarks, said
Sub-Saharan African countries, including Nigeria, had posted suboptimal growth
in recent times.
The growth figures, she said, were
far too small considering the huge demographic potential of Nigeria and other
countries in the region.
As a result, she said the IMF would
be engaging ministers of finance and central bank governors from the region
attending the annual World Bank and IMF meetings on how they could boost and
stabilise economic growth.
Lagarde said, “The Sub-Saharan
Africa is one region of the world where growth is suboptimal. Those countries
grow at an average growth of 2.5 percent. That is too low for the demographic
expansion of the region.”
The IMF managing director said
emerging and developing economies must invest more in their economies through
infrastructural spending, strengthening safety nets, allowing women more access
to the labour market and carrying structural reforms.
Written and edited by Christian Rowland,
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BUHARI EXPOSED!!! AS HE ASKED WORLD BANK PRESIDENT TO FOCUS ON NORTHERN NIGERIA,WHILE ARMY OPERATION PYTHON DANCE SHOULD FOCUS ON EASTERN NIGERIA...SEE
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