Tinubu Pledges Continuation of Nigeria Economic Reforms as World Bank Applauds Policy Consistency

President Bola Ahmed Tinubu has reiterated that there is “no turning back” on Nigeria’s economic reform agenda, even as the World Bank praised the country for its consistent and credible policy approach. The comments came during a meeting with a World Bank delegation led by the Managing Director of Operations, Anna Bjerde, at the State House in Abuja. Vice President Kashim Shettima was also present, and discussions centered on Nigeria’s reform trajectory, investor confidence, and future collaboration under the Bank’s Country Partnership Framework.

Bjerde highlighted that Nigeria is increasingly cited in global policy circles as an example of effective reform leadership, especially when navigating difficult economic adjustments. She noted that Nigeria’s consistent reforms have strengthened investor confidence and improved perceptions of policy stability, a crucial factor for sustainable long-term growth.

President Tinubu acknowledged the challenges accompanying reform, including inflationary pressures following fuel subsidy removal and exchange rate unification. However, he pointed out that inflation has since eased, the naira has stabilized, and macroeconomic improvements are boosting investor confidence. He emphasized that transparency, accountability, and policy consistency remain central to restoring macroeconomic stability.

Highlighting Nigeria’s growth potential, Tinubu identified agricultural transformation as a key pillar of his economic strategy. Government investments now include zonal mechanization centers, improved seed programs, and increased fertilizer availability, all aimed at modernizing farming, increasing productivity, and creating jobs. The World Bank also commended Nigeria’s focus on early childhood development, linking it to long-term productivity and human capital growth.

Bjerde said the upcoming World Bank framework aligns with Nigeria’s development priorities, including ambitions to build a $1 trillion economy and achieve 7% annual growth. Expanding access to finance for small and mid-sized enterprises is highlighted as a key driver of employment and economic expansion. Through a combination of public and private sector support, the World Bank reaffirmed its commitment to Nigeria’s reform journey.

source: nairametrics