The World Bank has increased Nigeria’s shares with it to bring the country at par with 15 other countries that are in that league.
Giving the hint after the Federal Executive Council (FEC) yesterday, Minister of State for Finance, Mr Yerima Ngama said the World Bank report to this effect noted that some of the countries that are also recording economic growth include China, India, Korea, South Africa, Saudi Arabia, Kuwait among others.
While noting that this was in recognition of the remarkable progress being made by Nigeria as one of the fastest growing economies, Ngama said following this development, Nigeria and 15 other countries that have been so recognised will now have greater voice in the affairs of the World Bank Group.
“This endorsement is welcomed. We now have significance voice”, he noted further the additional shares of 119 to Nigeria was in recognition of the fact that the Nigerian economy was performing based on three major criteria spelt out by the Bank.
FEC also approved the establishment of three additional federal universities to ensure that all the 36 states would have a federal university as promised by President Jonathan.