The African Development Bank (AfDB) has commended the Federal Government for investing the proceeds from the partial removal of fuel subsidy on the development of infrastructure as well as other sectors.
This is even as the World Bank lauded the Federal Government for the successful completion of the power sector privatisation and urged other African countries to tow the same line.
The commendations came on Sunday at the opening session of the African Union’s Summit on Financing Infrastructure Development held in Dakar, Senegal.
The summit, which has ‘Leveraging Public-Private Partnerships for Continental Infrastructure Transformation’ as its theme, was convened by President Macky Sall of the Republic of Senegal and chairperson of the New Partnership for Africa’s Development (NEPAD) Heads of State and Government Orientation Committee.
Listing some achievements in the infrastructure sector across Africa, the vice president, Africa, World Bank, Mukhtar Diop, commended the Federal Government for the successful privatisation of the power sector in Nigeria.
“We must commend the leadership in Nigeria for the successful completion of the privatisation of the country’s power sector. The electric reform in that country is one of the ways of solving Africa’s problems by Africans. We commend the country for that,” he said.
The president of the African Development Bank Group, Donald Kaberuka, on his part commended President Goodluck Jonathan for the partial removal of petroleum subsidy and for investing the saved money on infrastructure and education, among others.
He said, “A lot still needs to be done. Energy has remained the main problem in almost all the African countries.
“We, however, commend President Goodluck Jonathan for the partial removal of subsidy and using the saved fund on education, infrastructure etc.
“We urge other African leaders to borrow a leaf from him in this regard.”
