The Minister of Finance Zainab Ahmed has said the African Development Bank (AfDB) helped Nigeria out of recession.
Ahmed said this on Thursday on the sidelines of the first ever Africa Investment Forum ongoing in South Africa.
According to her, the “AfDB is our bank. Together with South Africa, we are the largest investors in the AfDB, and we are looking to invest even more.
“It is a business that is doing very well, we are very happy with the progress that the AfDB is making and therefore we are situating ourselves to invest even more.”
She noted that the “AfDB has become a catalyst of growth; when Nigeria went into recession, it was AfDB that was the first that provided budget support to Nigeria.
“And then the World Bank said, ‘OK, we would also do this,’ and other people followed.
“It became a catalyst for us and today we still ascribe one of the reasons why we were able to come out of recession quickly is because of the support that our bank, AfDB provided.”