Tinubu meets World Bank President, discusses reforms

President Bola Tinubu, on Friday, August 4, 2023, met with the President of the World Bank, Ajay Banga, at the Presidential Villa in Abuja.

Speaking during the meeting, Tinubu said a comprehensive forensic audit of the Central Bank of Nigeria (CBN) is underway, noting that his administration will also conduct a thorough overhaul of the civil service payroll.

Highlighting Nigeria’s resilience and intellectual prowess, the president implored the Bretton Woods institution to view the country as a significant player within the global community, not solely as a struggling economy.

On poverty alleviation, President Tinubu called for more increased support from the World Bank, expressing optimism for a productive collaboration between Nigeria and the World Bank that will lead to mutual benefits and sustainable progress.

He also discussed the ongoing efforts to address issues such as subsidy removal, foreign exchange mismanagement, exchange rates, inflation, liquidity, and debt management.

READ ALSO: Tinubu: We’ll overhaul civil service, conduct forensic audit of CBN

While calling for a positive partnership with the World Bank, Tinubu stressed key areas of focus, including job creation, digitization, and National Identity Management.

He also requested the World Bank’s support in addressing the challenges posed by the removal of cross-sectoral subsidies, particularly in lessening the impact on less privileged Nigerians.

In his remarks, Banga commended President Tinubu for his efforts in addressing the economic challenges of the country.

The World Bank President said: “Yes, we give money and our dollars are very important but where we are really helpful is our expertise and knowledge and our experience from many markets.

“In that way, we will always be your friend and partner, not just with the money, but with our minds and our hearts and you should be rest assured about that.”

The Star