Nigeria has emerged as a global reference point for steady and credible reform leadership, the World Bank has said, citing the country’s consistency and resilience in implementing difficult but necessary economic reforms.
The World Bank’s Managing Director of Operations, Ms. Anna Bjerde, made the remark on Tuesday during a meeting with President Bola Ahmed Tinubu and Vice President Kashim Shettima at the Presidential Villa, Abuja.
Bjerde commended Nigeria’s reform trajectory over the past two years, noting that the government’s determination to stay the course despite early challenges has yielded visible results and strengthened international confidence.
“Nigeria is now frequently cited globally as an example of steady and credible reform leadership,” she said, adding that the clarity and consistency of policy direction had reassured investors, policymakers and the private sector.
She disclosed that the forthcoming Country Partnership Framework between Nigeria and the World Bank would be firmly anchored on the country’s development priorities, including the goal of achieving a $1 trillion GDP and 7 percent economic growth.
President Tinubu, in his response, reaffirmed his administration’s commitment to the reform agenda, stressing that although the process had been challenging, it was irreversible.
“There will be no turning back,” the President said, noting that while subsidy removal and exchange rate unification initially fuelled inflationary pressures, inflation had since eased and the naira had stabilised, improving investor confidence and the ease of doing business.
According to him, the reforms are firmly anchored on transparency, accountability and policy stability.
Tinubu identified agricultural transformation as a core pillar of his administration’s economic strategy, citing investments in zonal mechanisation centres, improved seed development and fertiliser availability, supported by the petrochemical industry, to boost productivity and move farmers into stronger cooperatives.
“Nigeria is the heart of the continent. We must strengthen the economy, especially by harnessing our young population and vast arable land. Mechanisation is key, and that is why we have established zonal mechanisation centres to support farmers,” the President said.
He called on the World Bank to deepen its partnership with Nigeria by accelerating financing options, reducing bureaucratic bottlenecks, sharing development models, managing risks and strengthening local capacity to fast-track inclusive growth.
Bjerde, in her remarks, underscored the importance of expanding access to finance for small, medium and large enterprises, particularly mid-sized firms, which she described as critical drivers of job creation.
She also acknowledged Nigeria’s emphasis on early childhood development, describing it as essential for long-term productivity, and assured continued World Bank support.
“Even middle-income countries are seeing rising levels of stunting. Early childhood development is a strong entry point, and we look forward to advancing this under the new partnership framework,” she said.
Bjerde reaffirmed the World Bank Group’s commitment – through the International Development Association (IDA), International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC) – to supporting Nigeria’s reform agenda through coordinated public and private sector interventions.
The meeting was attended by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Deputy Chief of Staff to the President, Mr. Ibrahim Hassan Hadejia, alongside senior World Bank officials.
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