President Bola Tinubu has assured the World Bank that Nigeria’s ongoing economic reforms are irreversible, signalling strong commitment to a policy path aimed at stabilising the economy and boosting growth. The message was delivered during discussions with World Bank leaders in Abuja as part of Nigeria’s engagement with international development partners.
In his remarks, Tinubu highlighted the progress Nigeria has made since the launch of key reform measures, noting that the government would not reverse course despite short‑term difficulties. He emphasised that the reforms are designed to strengthen macroeconomic fundamentals, attract foreign investment, expand domestic production, and reduce dependence on oil revenue.
The president reiterated Nigeria’s dedication to fiscal discipline, improved revenue generation, financial inclusion, and measures to stabilise the foreign exchange market. He also spoke on efforts to improve the business climate by reducing bureaucratic bottlenecks, strengthening governance frameworks, and enhancing public sector efficiency.
World Bank representatives welcomed Nigeria’s commitment, underscoring the importance of sustained policy consistency for economic resilience. They acknowledged the positive signals sent by Tinubu’s assurances, and expressed continued support for programmes that align with Nigeria’s growth objectives.
Analysts say Tinubu’s insistence that reforms are irreversible is aimed at reassuring investors and development partners that Nigeria is firmly anchored to structural adjustments that will deliver long‑term benefits, even if they entail short‑term pains. Sustained reforms, they argue, are critical to diversifying the economy, tackling inflation, creating jobs and improving living standards for Nigerians.
The president’s engagement with the World Bank comes amid broader efforts to deepen partnerships with global financial institutions and strengthen Nigeria’s economic prospects through strategic collaboration, technical assistance and access to development financing.
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