President Muhammadu Buhari says Nigeria will fulfill its obligations to the ECOWAS Bank for Investment and Development in spite of the economic downturn occasioned by fallen prices of oil in the international market.
The President said this when he received the President of EBID, Bashir Mamma, at State House, Abuja on Monday.
Buhari said: “We may be limping because of fallen oil prices, but we will fulfill our commitments to the bank.
“We may have fallen behind, but we will rise up very soon.
“We will maintain the objectives of setting up the bank, which is to help our less financially endowed neighbours.”
Mamma said that EBID was the financing arm of ECOWAS for about 30 years.
He said EBID was initially set up as a fund “to help less developed West African states, but we now cover all parts of the sub-region”.
According Mamma, the EBID set up Ecobank and has also established an airline, after the national airlines of most member countries collapsed.