Receiving the bank's President, Dr Hamed Muhammad Ali, who led a 10-man delegation to his office on Friday, Atiku said the bank had enormous opportunities for public sector development.

Atiku recalled that the country's relationship with the bank started years ago, noting that the recent signing of an agreement between the two was to merely formalise its membership.

He said that the bank had been intervening in the country's programmes since they both opened communications some time in the past.

``The presence of the bank in Nigeria is for cooperation and partnership between the people of Nigeria, the bank and other countries of the south,'' the vice president added.

While noting the bank's interventions in areas such as agriculture, water resources and industry, Atiku urged it to explore other public sector areas for cooperation.

He said that both the people of Nigeria and the bank would benefit immensely from such arrangement.

The vice president also noted that with Nigeria's large population, cooperation between it and the bank would be mutually beneficial.
Speaking earlier, Ali said the bank was established to enhance south-south cooperation and promote development among them.

He expressed his pleasure with Nigeria's membership of the bank, saying that he looked forward to working with the country for the benefit of its people.

The bank offers interest-free loans to member-countries and is also involved in equity financing, especially in the textile industry.
It also finances equipment leasing and engages in import-export guarantee, technical cooperation and exchange of experts.

Established in 1975, the bank has all the West African countries as members, except for Ghana, while Nigeria is its 56th member.