Some financial experts said election of Dr Ngozi Okonjo-Iweala, the Minister of Finance, as the President of World Bank, would bring development to developing nations.
They said this in separate interviews with the News Agency of Nigeria (NAN) in Lagos on Wednesday.
NAN reports that the African Union, had during its just concluded summit in Addis Ababa, endorsed the nomination of Okonjo-Iweala for the president of the bank.
Dr Olumide Owoade, a Senior Lecturer, Department of Economics, Lagos State University, said that the election of Okonjo-Iweala as the World Bank president would promote the country’s business interest at the international level.
He said that her election would also place the country on the competitive advantage over other African countries.
Owoade said that the position would enable her to present the nation ‘economic problems to the IMF for necessary financial assistance.
“If the minister of finance is elected as the next president of the World Bank, it will make the country to be closer to the IMF which will have positive influence on the economy,” he said.
Dr Samuel Nzekwe, the immediate past President, Association of National Accountants of Nigeria (ANAN), said that the election of Okonjo-Iweala as the World Bank President would make the country to be more recognised internationally.
He said that the position would enable the international community to begin to explore the investment opportunities in the country.
Nzekwe urged the Federal Government to aggressively put in place adequate measure for infrastructure development, good governance and security to woo the investors.
“The ability of the government to have a good framework in place will make the emergence of Okonjo-Iweala as the World Bank president to have positive impact on the nation’s economy,” he said.
Also, Mr Eddie Osarenkhoe, the former President, Finance Houses Association of Nigeria (FHAN), said that Okonjo-Iweala’s election would be beneficial to the Africa countries.
He said that this would help the country?? in sourcing for external loans to revamp the decaying infrastructure.
Osarenkhoe said that it would also attract new foreign investors into the country, which he said, would provide jobs opportunities for the unemployed youth.
“I believe that if Okonjo-Iweala is elected as the World Bank President, it will promote the nation’s economic activities and enhance good performance,” he said.
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