In spite of the recession orchestrated largely by fallen prices of oil in the international market, the President of the Federal Republic of Nigeria, Muhammadu Buhari, has stated that Nigeria would fulfill its obligations to the ECOWAS Bank for Investment and Development (EBID).

While receiving President of the bank, Bashir Mamma, at State House, Abuja, Monday, President 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 live up very soon. We will maintain the objectives of setting up the bank, which is to help our less financially endowed neighbours.”

In his reply, Mr. Mamma said: “EBID is the financing arm of ECOWAS, which has been there for about 30 years, and was initially set up as a Fund to help less developed West African states, but we now cover all parts of the sub-region.”

The EBID boss added that EBID set up Ecobank, and has also established an airline, after the national airlines of most member countries collapsed.