The commendation was given by AfDB Nigeria Senior Director, Ebrima Faal, who represented the bank’s President, Akinwumi Adesina, at a summit organized by the House of Representatives on legislative actions that could facilitate economic growth and stability held in Abuja on Monday and Tuesday.
According to the AfDB chief, “Nigeria’s sound growth prospects are increasingly underpinned by generally improved macroeconomic policies, low external debt, political stability, and good governance. Fewer conflicts and more democratic institutions have also provided better clarity for investors as evidenced by the recent improvements in Nigeria’s ranking in the ease of doing business index.”
Faal noted that despite reports to the contrary, the AfDB is in consultation with the government about how best to support Nigeria’s Economic and Growth Recovery Plan.
He stated, “I would like to stress that the African Development Bank Group is highly encouraged by the economic recovery of Nigeria from the recession, and the bank salutes the government’s efforts toward diversification of the economy. The bank also strongly supports the Economic and Growth Recovery Plan (ERGP) of the government; including efforts to stem corruption and strengthen fiscal consolidation and efficiency.
‘’We shall continue to strengthen our engagement and ties with the Federal Republic of Nigeria. The country is the largest and most important shareholder of the African Development Bank Group, and as such our commitment to Nigeria is resolute.”
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