The World Bank has strongly advised the federal government against undoing the current economic reforms, expressing concerns that such actions could have detrimental effects on the nation.
During the presentation of the Nigeria Development Update (NDU) report in Abuja on Thursday, Dr. Ndiame Diop, the World Bank Country Director for Nigeria, emphasized that although the reforms might result in short-term difficulties, they are essential for ensuring the country’s long-term stability.
He said, “Reversing these reforms would be detrimental and would spell doom for Nigeria.”
In a similar context, Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, highlighted the federal government’s dedication to continuing its reform initiatives.
He said, “Any effort that is not sustained will be a waste. Together with the Governor of the Central Bank of Nigeria and the Minister of Budget and National Planning, we’ve been discussing how to stay on course, tackle inflation and ensure we move in the right direction. CONTINUE READING”
