Nigeria’s Minister of Finance, Mrs Kemi Adeosun, has emerged the Chairperson of the Board of Governors of the Economic Community of West African States (ECOWAS) Bank for Investment and Development (EBID).
Mrs Adeosun was named the new chairperson of EBID on Tuesday at the end of the 15th Ordinary Meeting of the board of governors of the bank in Abuja, the Federal Capital Territory.
The meeting, which was declared open by the Vice President, Professor Yemi Osinbajo, was attended by ministers of finance of all the 15-member countries that made up the ECOWAS region.
The minister who proffered ways members could promote regional integration and inclusive development in West Africa succeeded her counterpart from the Republic of Niger, Hassoumi Massoudou.
She stressed the need for governments in the sub-region to make life better for the people through radical economic transformation and creation
Adeosun said, “The journey towards facilitating economic development in our sub-region has a number of challenges in line with our ECOWAS vision and these we must address. I will mention just a few;
“Firstly, finance ministers must endeavor to speak about the radical economic transformation that will no doubt take us on the path to a better life for all citizens in our community. Secondly, we need to prioritise industrialisation especially through labour intensive manufacturing and agricultural processing to promote job creation.”
On his part, President of EBID, Mr Bashir Mamman Ifo, said the implementation of the bank’s 2016-2020 Strategic Plan was being constrained as a result of lack of adequate resources.