The World Bank has described Nigeria as a global reference point for steady and credible reform leadership, citing the country’s consistency and resolve in implementing difficult but necessary economic reforms under President Bola Ahmed Tinubu.— LeadNaija News report
The commendation came on Tuesday at the State House, Abuja, during a high-level meeting between President Tinubu, Vice President Kashim Shettima, and a delegation from the World Bank led by Anna Bjerde, the Bank’s Managing Director of Operations.
Speaking at the meeting, Bjerde said Nigeria is now frequently cited internationally as an example of a country that has remained committed to reform despite short-term challenges.
She praised the Tinubu administration for its policy consistency over the past two years, noting that the clear signs of progress have strengthened confidence among investors, policymakers, and the private sector.
According to her, the upcoming World Bank Country Partnership Framework for Nigeria is firmly aligned with the country’s development priorities, including the ambition to achieve a $1 trillion Gross Domestic Product (GDP) and 7 percent economic growth.
Tinubu: No Turning Back on Reforms
President Tinubu reaffirmed his administration’s commitment to the reform agenda, stressing that there would be “no turning back”, despite the initial pains experienced by citizens.
He acknowledged that the removal of fuel subsidy and the unification of exchange rates initially triggered inflationary pressures but noted that inflation has since eased and the naira has stabilised, improving the business climate and investor confidence.
The President said the reforms are firmly rooted in transparency, accountability, and policy stability, which are essential for long-term economic growth.
Agriculture, Youth, and Inclusive Growth
President Tinubu highlighted agricultural transformation as a key pillar of his administration, revealing that government investments are ongoing in zonal mechanisation centres, improved seed development, and fertiliser availability, supported by Nigeria’s expanding petrochemical industry.
He said the goal is to boost productivity and transition farmers from subsistence farming to strong cooperatives, while creating jobs for Nigeria’s growing youth population.
“Nigeria is the heart of the continent, and we must do what is necessary to strengthen the economy, especially by harnessing our young population and vast arable land,” the President said.
World Bank Pledges Deeper Support
Bjerde called for improved access to finance for small, medium, and mid-sized enterprises, describing them as critical drivers of employment and economic expansion.
She also praised Nigeria’s focus on early childhood development, warning that rising stunting levels remain a global concern even among middle-income countries.
The World Bank chief assured Nigeria of continued support through its institutions — the International Development Association (IDA), International Bank for Reconstruction and Development (IBRD), and the International Finance Corporation (IFC) — combining public and private sector interventions.
Also present at the meeting were the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Deputy Chief of Staff to the President, Ibrahim Hassan Hadejia.
The World Bank’s endorsement further strengthens Nigeria’s positioning as a reform-driven economy and signals growing international confidence in the Tinubu administration’s economic direction.
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
