FG. To Establish A Nigerian Development Bank In 2015 – Okonjo-iweala

+The coordinating minister for the economy and
minister of finance, Dr. Ngozi Okonjo-Iweala, has
said that the federal government is fine-tuning
plans to establish a Nigerian Development Bank in
2015.
The minister stated this in Abuja yesterday during
a dinner organised by the African Development
Bank (AFDB) to flag-off events marking the 50th
anniversary of Africa’s premier development
finance institution.
Okonjo-Iweala, who was a guest speaker at the
occasion, paid tributes to both the World Bank
and the AfDB for strongly supporting Nigeria’s
aspirations on establishment of a development
bank to fast-track economic diversification and
sustainable and inclusive growth.
The event attracted dignitaries including Cross
River State Governor Lieyel Imoke, representatives
of Kaduna State Government and the honorable
minister Federal Capital Territory (FC). Other
dignitaries present included resident coordinator f
the United Nations System in Nigeria, Mr. Dauda
Toure, former vice-president of the AfDB, Mr. Bisi
Ogunjobi, Chairman of the bank’s administrative
tribunal, Justice Alfa Belgore (retired) and
managing director and CEO, Nigerian Export-
Import Bank, Mr. Robert Oryia as well as a
representative of the European Union Delegation in
Nigeria.
Earlier in his welcome remarks, the AfDB’s Nigeria
country director, Dr. Ousmane Dore, said that “
from a modest capital base of$250 million and a
staff base of 10 individuals, the AfDB has has
evolved to become Africa’s undisputed premier
development finance institution, commanding the
respect of much older peers like the World Bank
and the International Monetary Fund” Dore told
his audience that the AfDB started operations in
Nigeria in 1971 with a total investment of about $
5billion agriculture, infrastructure, education and
social development adding that the portfolio now
includes environment, peace and security building.

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