AfDB tasks Nigeria, others on resources utilization

African Development Bank, AfDB, has urged Nigerian government and indeed African leaders to ensure judicious use of human and material resources to better the lots of the growing population in the continent.
Acting Chief Economist and Vice-President of the Bank, Mr Steve Kayizzi-Mugerwa, who disclosed this during the annual lecture of the Nigerian Economic Society in the country, also enjoined the leaders to ponder over Africa’s future by establishing mutually-beneficial trade relations in the continent and by extension the world.

Kayizzi-Mugerwa in his paper entitled, “Development State in Africa–The Quest for Inclusive Growth and Economic Transformation”, listed some key attributes of developmental states to include elimination of poverty as well as utilization of resources for the betterment of the African population.

He also enjoined African leaders to exploit the benefits of global economy while eliminating civil wars among themselves. It would be recalled that the President of African Development Bank, Mr Donald Kaberuka recently visited Nigeria in preparation of handing over to the new President, Mr Akinwumi Adesina of Nigeria. During his visit, Kaberuka gave the assurance that AfDB will continue to support economic projects in the country.

President Buhari had informed the outgoing President of AfDB that his administration would welcome more support from the Bank for projects in some versatile sector like agriculture, saying it can be explored to create more jobs for unemployed Nigerians. He had also expressed shock of falling oil prices and lack of revenue and insecurity, urging Nigerian elites to provide guidance in their communities while leading the economy on the right path.