World Bank Managing Director Anna Bjerde has hailed Nigeria as a global example of “steady and credible reform leadership.”
During a visit to President Bola Tinubu and Vice President Kashim Shettima at the State House, Abuja on Tuesday, Bjerde praised the government’s commitment to its reform agenda, noting that “staying the course” has yielded positive results.
According to Bjerde, this consistency has restored confidence across the private sector and global policy circles.
The session was attended by key economic officials, including Finance Minister Wale Edun and Deputy Chief of Staff Ibrahim Hassan Hadejia.
The World Bank chief highlighted the forthcoming Country Partnership Framework as being firmly anchored in Nigeria’s own development vision, particularly the goal of achieving a $1 trillion Gross Domestic Product (GDP) and seven per cent growth.
She acknowledged Nigeria’s focus on strengthening early childhood development as essential to long-term productivity, and assured the Bank’s support in this regard.
“Many countries around the world, even middle-income and upper-middle-income countries, are suffering again with rising levels of stunting. And here, we’ve identified early childhood development as a strong entry point. So, all of this, to say we’re looking forward to a new country partnership framework,” she said.
She reaffirmed the World Bank Group’s commitment to a programme aligned with Nigeria’s priorities, combining public and private sector support.
Bjerde stressed that the World Bank Group, through its institutions, the International Development Association (IDA), International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC), is ready to continue to support Nigeria’s reform agenda.
Welcoming the World Bank Chief, President Bola Tinubu reaffirmed the government’s commitment to the ongoing economic reforms, acknowledging that though the process has been challenging, “there will be no turning back.”
The President stressed that while the subsidy removal and the unification of exchange rates initially triggered inflation, it has since reduced significantly, and the naira has stabilised, improving investor confidence and ease of doing business.
According to Tinubu, the reforms being implemented are anchored on transparency, accountability and stable policies.
Tinubu highlighted agricultural transformation as a priority of his administration, noting that investments have been made in the sector through zonal mechanisation centres, improved seed development, and fertiliser availability, supported by the growing petrochemical industry, to boost yields and move farmers from small-scale operations into strong cooperatives.
“Nigeria is the heart of the continent, and we must do what’s necessary to strengthen the economy, particularly looking at the young population of this country, looking at the vast area of arable lands.
“How do we employ mechanisation and make agriculture easier? I have embarked upon that. We have created zonal mechanisation centres to help the farmers,” he said.
The President called on the World Bank to deepen its partnership with Nigeria by accelerating financing options, reducing bureaucracy, sharing development models, managing risks, and building local skills to fast-track inclusive growth and prosperity.
Author
Leave a comment