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World Bank’s portfolio in Nigeria now N600bn

Washington—World Bank President Robert Zoellick said, Tuesday, in Washington that the portfolio of the bank in various projects in Nigeria had reached $4.2 billion (about N600 billion).

He said this at a meeting of the bank’s senior officials with Acting President Goodluck Jonathan at the World Bank Headquarters.

The Finance Minister, Mr. Olusegun Aganga, said in Washington that the meeting was at the instance of the bank to underscore its support for the government.

He said: “The meeting was very fruitful. They were very impressed with all the decisions the Acting President has taken so far and with his style of leadership.

“We urged the bank to do more to help Nigeria to achieve its goals and objectives.They were very interested in understanding the priorities of the current administration.”

The minister said the meeting discussed crucial infrastructural and developmental needs of the country, and how the bank could partner with the government.

“We talked about infrastructure; we talked about power, rail, the Petroleum Industry Bill and Niger Delta.

“The projects under the portfolio of the bank in Nigeria cut across finance, power, capacity-building, infrastructure support in the Niger Delta, Lagos and urban water.

“In all these areas, they pledged to help and support us fully. I, as the Minister of Finance, have been asked to look at the various areas,’’ he added.

Aganga said Nigeria would continue to attract a lot of goodwill,  in view of the fact that a lot of groups and international bodies were willing to associate with the current administration.

He said as the goodwill comes in, government would not lose its track of driving the economy.


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