Tinubu’s govt makes history as Finance Minister, Edun gets World Bank appointment

Nigeria's Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has been appointed to chair the African Governors' Forum of the World Bank.

This marks the first time Nigeria has assumed the role of chairman of the African Governors' Forum since 1963.

The appointment was disclosed at the ongoing 2023 World Bank/International Monetary Fund (IMF) annual meetings in Marrakech, Morocco, the Cable reports.

Addressing the media on the sidelines of the annual meetings on Tuesday, October 10, 2023, Edun said the appointment will present a unique opportunity for Nigeria to play a central role in uniting the African continent.

He further urged the African leaders to rally behind the cause to secure a better future for Africa.

His words: "Nigeria has the opportunity now as the chairman of the African Governors’ Forum to unite the continent, enabling African countries to speak with one voice and obtain a better deal for Africa."

African governors forum

The African Caucus was established in 1963 to strengthen the voice of African Governors.

The Forum of the World Bank and IMF comprises African nations' finance ministers and central bank governors.

According to the IMF's guiding principles for the caucus, the forum's chairman is determined by rotation based on the alphabetical order of African countries.

This system ensures that each country takes its turn to lead the group, preventing one nation from chairing the forum twice while others have yet to assume the role.

However, the guiding principles also allow for flexibility as countries not ready to take the Chair would cede the opportunity to the following government on the list and wait for the next round of rotation.

Based on the established rotation system, Cape Verde and Eritrea were supposed to chair in 2024 and 2025, respectively, but have decided to give it to Nigeria.

Wale Edun will now lead the group for one year.