The Federal Government of Nigeria (FG) has advised the African Development Bank (AfDB) on the need to step up its efforts in helping African countries to create jobs for the youths across the continent because it is clear that governments alone cannot do this.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, who is also the Governor of Nigeria to AfDB stated this in her congratulatory message to the President of AfDB, Akinwumi Adesina on the occasion of his swearing-in ceremony for a second term in office.
Ahmed noted that projects in areas of infrastructure development, the use of guarantee instruments to de-risk investments and promote trade, as well as private sector development were very important platforms around which the bank could help in the creation of jobs in Africa.
The minister expressed appreciation for the quick action of the bank, with the support of the Board of Directors, in providing emergency COVID-19 assistance to regional member countries towards stabilising their economies as they dealt with the health and economic emergencies of the pandemic.
Ahmed said the bank’s relevance to its regional member countries was directly related to its preparedness and ability to stand with them in challenging times.
“I wish to use this opportunity to urge the bank to also consider intervention in the area of health infrastructure, as this will help both in coping with the present crisis, as well as in preparing for possible future episodes,” she said.
Ahmed further noted that the recent uplift of the bank’s capital base under the GCI-7 and ADF-15 provided an opportunity to scale up its interventions in member countries. She also observed that Africa was well positioned for a new era of growth with the various domestic reform efforts in African countries in the areas such as resource mobilisation, public finance management and improving the environment for doing business.