Business News of Wednesday, 10 July 2024

Source: www.mynigeria.com

UN encouraged to support Nigeria’s economic reforms

Senator Abubakar Bagudu Senator Abubakar Bagudu

Nigeria's Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has urged the United Nations (UN) to be more supportive towards the country's ongoing economic reforms.

According to Bagudu, the aid would help other nations to make similar adjustments that are important for sustainable growth and development.

He made the appeal while visiting the Deputy Director-General of the United Nations Industrial Development Organisation (UNIDO), Ms. Fatou Haidara, in Abuja on Tuesday, 9th July, 2024.

In spite of the economic reforms brought up by President Bola Tinubu’s administration aimed at boosting Nigeria’s economy, Bagudu expressed disappointment over the UN’s slow response in supporting these initiatives.

Bagadu said: “Over the past year, Nigeria has undertaken what we consider very bold and courageous reforms, almost at risk to our leadership. But we don’t think the system, particularly the United Nations system, has responded fast enough.

“We feel that we are missing maybe an element which will encourage other countries to embark on reforms if they don’t see the support.

“This issue was discussed at the Non-Aligned Movement Summit in Uganda. Many countries thought the United Nations system was deviating from the ideals of its founding fathers. We are telling you this so you can find a way of communicating the challenge or doing something about it.”

Haidara acknowledged Nigeria as a significant founding partner of UNIDO and noted the rewarding cooperation between the two entities over the years.

She said: “My colleagues told me that all the meetings to design the Programme for Country Partnership (PCP) were held with your ministry and here. We are very honoured to be able to talk today about what we will be doing under this Programme for Country Partnership.”