FG begs Islamic Bank for assistance

Posted by News Express | 23 August 2016 | 2,044 times

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Nigeria’s Minister of Finance, Mrs Kemi Adeosun, has appealed for support of the Islamic Development Bank (IDB) towards the attainment of financial inclusion and economic diversification.

She also asked for contributions from the bank towards the rebuilding of the northeast region that had been devastated by the Boko Haram insurgency.

The Minister expressed hope that this would enhance the provision of infrastructure for the Nigerian populace, as well as speed up economic development in Nigeria.

She made the appeal on Monday at a meeting with officials of the IDB in Abuja, to flag off the business activities of the bank in Nigeria.

The President of the bank, Mr Ahmad Al-Madani, explained the relationship between Nigeria and the IDB and added that the bank looked forward to a prosperous future together through the provision of basic infrastructure for Nigerians.

The meeting was later followed by the official opening of the IDB office in Nigeria.

The Nigerian government has said it is making efforts to cushion the effect of harsh economic times on Nigerians by ‘pumping money’ into the economy that the Central Bank said was near recession.

On Friday, The Minister of Finance told reporters that the government would allocate 60 billion Naira ($180 million) more spending on capital projects, as part of the 2016 budget.

Mrs Adeosun said that the allocation was an addition to earlier releases, aimed at boosting the economy.

Mrs Adeosun said that so far, the government had spent over 400 billion Naira on capital.

•Sourced from Channels TV. Photo shows Kemi Adeosun.


Source: News Express

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