Country Director for Nigeria at the World Bank, Shubham Chaudhuri revealed that the institution has allocated more than $11 billion in funding to both the federal and sub-national levels of the Nigerian government over the past three years.
Chaudhuri made this statement during the commencement of a three-day cabinet retreat, which was attended by ministers, presidential aides, permanent secretaries, and senior government officials, held at the State House Conference Centre in Abuja.
He emphasized that Nigeria stands at a pivotal juncture, facing the choice of either persisting with conventional practices and risking potential disarray or summoning the courage to chart a new path, taking bold measures to drive meaningful change.
In his statement, Chaudhuri emphasized the World Bank’s commitment to supporting the Nigerian government.
He stated that over the past few years, the bank has allocated over $11 billion to the federal and sub-national levels.
He also stressed that the World Bank is not just a financial institution but also a source of solutions and ideas.
He pledged to provide support beyond financing and expressed his privilege to be in Nigeria during this critical period.
He said,
Chaudhuri also commended President Tinubu’s bold steps since the assumption of office.
Richard Montgomery, the British High Commissioner, expressed that Nigeria is confronted with significant security, economic, and social challenges. Nonetheless, the United Kingdom’s government is prepared to offer support to the administration led by Tinubu.
