PRESIDENT BUHARI WELCOMES IDB FINANCING OFFER

President Muhammadu Buhari Thursday in Mecca
welcomed an offer by the Islamic Development
Bank (IDB) to organize a financing roundtable in
Abuja to mobilize more funds for investment and
development of infrastructure in Nigeria. The President of the IDB, Dr Ahmed Mohammed Ali
made the offer at a meeting with President Buhari
who is currently on an official visit to Saudi Arabia.
Dr. Ali assured President Buhari that the IDB will
work with its traditional partners such as the Saudi
Fund, the Kuwait Fund, Arab Bank for Development in Africa and the Abu Dhabi Fund, to increase the
quantum of funding available to Nigeria.
Welcoming the offer, President Buhari restated his
government’s determination to revamp and
diversify the Nigerian economy rapidly.
“The days of Nigeria as a big oil producer with plenty of money are gone. We need all the support
we can get to diversify our economy as quickly as
possible.
“We also need to rehabilitate our infrastructure,
develop the domestic capacity to feed ourselves
and export the surplus,” the President told Dr. Ali. President Buhari welcomed the plan by the IDB to
fast track the take-off of the Bilingual Education
Program, aimed at integrating the Almajiri system of
education with Western education in Nigeria.
The IDB has already provided US$ 98 million for the
Bilingual Education Program in Adamawa, Gombe, Kaduna, Kano, Kwara, Nasarawa, Niger, Osun and
Yobe.
The bank plans to support similar projects in other
states of Nigeria.

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