Abuja — President Olusegun Obasanjo yesterday pledged that his administration would remain focused on achieving rapid economic growth and development in Nigeria.

"Government will remain focused on ensuring service and growth for our people," he told members of his Economic Management Team during a meeting with them.

The meeting was to review yesterday's favourable appraisal of Nigeria's economic reform programme by the Executive Board of the International Monetary Fund and its ratification of Nigeria's Policy Support Instrument (PSI).

The ratification of the PSI is expected to facilitate the ending of Nigeria's indebtedness to the Paris Club under the agreement concluded last year.

President Obasanjo seized the opportunity of the meeting to thank members of the team for their efforts to secure the historic debt relief for Nigeria. "Many thought it was not possible. All of you made contributions in one way or the other," he told members of the team.

Responding on behalf of her colleagues, the Minister of Finance, Mrs. Ngozi Okonjo-Iweala thanked President Obasanjo for his leadership, vision, doggedness and political will in pursuit of debt relief and the reform agenda.

"The credit really goes to you, Mr. President", the minister said.