IMF Tells Buhari To Invest In Things That’ll Enhance Economic Growth

IMF Tells Buhari To Invest In Things That’ll Enhance Economic Growth

The International Monetary Fund has advised President Muhammadu Buhari to invest in things that can enhance economic growth.

 

The Managing Director, IMF, Christine Lagarde, said this at a press conference in Washington DC, United States on Thursday.

 

At a separate press conference the President of the World Bank Group, Jim Yong Kim also disclosed how the president Buhari instructed the bank to concentrate its works on northern Nigeria.

 

Kim said, “You know, in my very first meeting with President Buhari he said specifically that he would like us to shift our focus to the northern region of Nigeria and we’ve done that.  Now, it has been very difficult. The work there has been very difficult.

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According to Kim, Nigeria needs to invest in human capital, adding that the government spends less than one percent of its Gross Domestic Product on healthcare.

 

He explained that the government must begin to invest in people so that the country can grow its economy rapidly.

 

To Lagarde, Nigeria has posed some improvement in the recent time but the growth is small judging by the demographic potential of Nigeria and other countries in the region.

She said that the IMF would be engaging the Nigeria Minister of Finance Kemi Adeosun and the Governor of Central Bank by inviting them to conferences on how to boost the economy.

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