President Bola Tinubu has urged for the support of the International Monetary Fund (IMF) to ensure that out-of-school children in Nigeria are kept in classrooms. The Special Adviser on Information and Strategy to the President, Bayo Onanuga, stated that Tinubu made the remarks during a courtesy call with Kristalina Georgieva, the Managing Director of the IMF, on the sidelines of the G20 leader’s summit.
Tinubu was said to have emphasized that education is a pathway out of hunger and poverty, disclosing that his government is working on plans to incentivize education for children.
“That is why we are designing ways and incentives to keep these children in school, and we need your support for these kids who want to stay in school.”
Tinubu assured that measures are being taken to reduce the hardship caused by recent reforms, noting that positive outcomes are already visible.
While congratulating Georgieva on her re-election for a second term, the President also asked the IMF to support the government’s reforms, particularly those involving taxation.
“We are engaging stakeholders and sensitizing Nigerians to expand the economy’s tax base for inclusive developmental growth”.
“We are doing this without necessarily increasing the taxes on our people who have already given a lot. We will require your support on this.”
According to Georgieva, the IMF is focused on developing vulnerable societies and devoting substantial resources to emerging economies.
The Managing Director expressed the Fund’s readiness to offer technical support for the budgeting process, adding that it will assist Nigeria in achieving the best possible results from loans.
“The world had suffered some shocks from the pandemic that caused damage to world economies. Over the last two years, the IMF has injected about $1 trillion into the world economy.”
The IMF is working with developing countries to build resilient institutions to better manage future global economic shocks; and it is the right of every country to benefit from the Fund after a critical analysis of its priorities.
However, the IMF’s Executive Board had approved the third chair for sub-Saharan Africa to strengthen the region’s representation while congratulating Nigeria for hosting the IMF’s African caucus meeting in Abuja in August.
She advocated for deeper regional economic cooperation and assured that the lender is prepared to support such efforts.