Nigeria Benefited $11bn From The World Bank

By Ikenga Chronicles August 9, 2019

Nigeria Benefited $11bn From The World Bank

Rachid Benmessaoud, Country Director,World Bank Group, has revealed that Nigeria has enjoyed a net commitment of about $11 billion over the years from the bank.

This he said on Thursday in Abuja at the maiden edition of the Nigeria Portfolio Performance Award which was organised in partnership with the Ministry of Finance to recognise and honour outstanding performance from project implementation units of World Bank supported projects at states and federal levels.

According to him, the bank’s commitment is geared toward projects targeted at alleviating poverty and improving the lives of the people.

He said that 60 per cent of the bank’sprogrammes were implemented at the state level and another 40 per cent by the Federal Government.

Benmessaoud said that the bank’s portfolio in Nigeria was among the largest in the entire African region, adding that it had more than 30 operational projects.

The projects cut across health, education, agriculture, social protection, energy, infrastructure, and governance among others in the 36 states of Nigeria, including the FCT.

He also said the bank was working toward a new country partnership framework that would outline the new reform challenges that the government faces and how it could support it in implementing solutions to the challenges.

Speaking about the awards, the country director said that it was introduced to recognise the various entities that were involved in implementing the bank’s programmes in terms of their performance.

He said that the states were evaluated based on their investments, quality of briefings that they prepared for reporting to their boss (governor/commissioner) and quality of mechanisms that exists at the state level.

Benmessaoud added that the awards would henceforth be an annual event.

Mr Mahmud Isa-Dutse, the Permanent Secretary, Ministry of Finance, restated the ministry’s commitment to the World Bank in building an enabling environment to manage its portfolio in Nigeria.

Also reacting, the Governor of Kaduna state, Nasir El-Rufai, in his reaction to newsmen on the sidelines of the event said it was an excellent idea that would make the states to compete at the highest level of governance.

He also said that the awards would make the state governors interested in World Bank projects and utilise them.