A delegation from the International Bank of America, on Tuesday, visited President Bola Tinubu at the State House, Abuja, lauding the President for economic policies rolled out so far.
The delegation, which was led by the bank’s President, Mr Bernard Mensah, expressed excitement about the initial steps taken by the new administration, which, he said, was taking Nigeria back to its rightful place on the global stage.
The President’s Special Adviser on Special Duties, Communications and Strategy, Dele Alake, who revealed this in a statement on Tuesday, also quoted the American bank as saying it was willing to assist Nigeria in addressing its immediate and longer-term challenges not only in the area of financing but also by offering ideas.
Mensah said, “We’re excited about the initial direction of the government. We’re looking to see how we can help and partner. We have a lot of global resources that we think can help the Nigerian economy.
“We operate on such a global basis. We’re a huge international firm. We touch so many things. We think we can help think through the markets, the financial architecture and structure.”
Mensah said the bank could also help think through new technology applications, the global debate around climate change and how it can bring resources to bear so that Nigeria takes a seat on the worldwide stage on such issues.
In his remarks, the Nigerian President said though his administration had been on the right track in the past over 30 days, it needed strategic help from international partners.
“We believe we are on the right track so far. We believe we need all the help we can get,” Tinubu told the delegation.
The President said Nigeria’s governance and development challenges could not be addressed without fiscal and institutional reforms.
He said, “21st-century actions on climate change, finance and innovation are intertwined.
“Having a good platform and believing in innovation will help in undertaking reforms and tackling the issues.
“This is the largest economy and democracy in Africa and if we cannot do it, nobody will do it for us,” Tinubu said.
Highlighting specific areas of support, he urged the International Bank of America and other willing financing institutions to help ensure that Nigerian gas competes favourably in the global market as a viable alternative revenue source.
The President’s Special Adviser on Monetary Policy, Wale Edun, said the issues discussed included the significance of financing and liquidity to propel the economy and the vital role of technology in economic development.
In company with Mensah on the visit were the Head of Sub-Saharan Africa, International Bank of America, Mrs Yvonne Fasinro, and Head of Investment Banking Sub-Saharan Africa, Mr Chuba Ezenwa.