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Nigeria plans to reduce its dependence on external borrowing as part of a broader strategy to explore alternative funding sources.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this known during a meeting with World Bank Executive Director Zainab Shamsuna Ahmed. He emphasized the government’s commitment to fostering a business-friendly environment and attracting private sector investments.
Ahmed commended Nigeria’s economic reforms and highlighted the World Bank’s expanded lending capacity, adding $150 billion over the next decade. Edun also reaffirmed Nigeria’s commitment to the World bank’s ‘Mission 300’ initiative to improve electricity access across Africa.
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