Follow Us on Google
From Isaac Anumihe, Abuja
The federal government has reacted to the World Bank’s strong-worded advice on the economy, saying that it was enriching but was silent on the implementation.
Speaking at the closing of the 30th anniversary of Nigerian Economic Summit Group (NESG #30th), President Bola Ahmed Tinubu said that the advice was enriching and exhilarating. He, however, was mum on the implementation of the advice.
“Our engagements in the last three days have been enriching and rewarding, particularly with the speech of the Vice President of the World Bank Group, Mr Indermit Gill, who admonished us to stay the course in the implementation of the current reforms” Tinubu who was represented by the Minister of Budget and Economic Planning, Senator Atiku Bagudu, said.
According to the president, discussions at the summit was frankly with no-holds-bare submissions.
“I was also thrilled by the frank discussions and no-holds-bare submissions made by the panelists at the plenaries.
It is also reassuring to note that some state governors, ministers, permanent secretaries, directors-general of government agencies; directors of federal and state MDAs, civil society organizations, development partners, as well as captains of industry participated actively in this year’s summit. Without a doubt, the summit, as has been the case in the past, lived up to its billing” he said
He said, no doubt, the summit attracted experts from diverse backgrounds who helped to deepen and formulate government policies.
“I note with satisfaction that participation in the annual summit attracted experts from diverse backgrounds and helped deepen and broaden citizens’ collaboration and ownership in formulating government policies. This indicates that all stakeholders are committed to working closely with the government to take collaborative action for growth, competitiveness, and stability.
“From the inception of our administration, we understood and accepted that partnership with the private sector was essential for the country’s economic growth and development. Over the last three days, this summit has facilitated deep and meaningful conversations among public, private, and civil society leaders. Together, we have created an environment of mutual respect and dialogue. This understanding has informed our engagement with the summit process, which has generated many policy recommendations for government action.
“Like the previous summits, the 30th Summit was a huge success not because of the high turnout of delegates but because the plenary and concurrent sessions addressed the key issues that will guide our economic growth and development.
“I am confident this year’s summit report will articulate the critical issues exhaustively discussed in the various sessions, especially the interactive panel sessions, expert forums, high-level panels, CEO Roundtable sessions, and Insight Sessions.
Recall that on Monday, World Bank painted a gloomy picture of Nigeria’s economy, saying that it would require 10 years to 15 years of consistent implementation of the right policies and painful transparency before the economy would recover.
