TINUBU’S REFORMS: A GLOBAL BENCHMARK FOR ECONOMIC TRANSFORMATION -WORLD BANK
GREATRIBUNETVNEWS–THE World Bank has praised Nigeria’s economic reforms under President Bola Ahmed Tinubu, citing the country as a global reference point for steady and credible reform leadership. Here are the key highlights from the meeting between Tinubu, Vice President Kashim Shettima, and World Bank Managing Director of Operations, Anna Bjerde
– Reform Progress : Nigeria’s reform progress over the past two years has built strong confidence among investors, policymakers, and the private sector, with Bjerde stating, “You’ve been very steady, and it has been very noted, and from time to time, quoted by myself as well.”
– Country Partnership Framework : The World Bank’s forthcoming Country Partnership Framework is anchored in Nigeria’s development vision, targeting a $1 trillion GDP and 7% growth.
– Agricultural Transformation : Tinubu prioritizes agricultural transformation, with investments in zonal mechanisation centres, improved seed development, and fertiliser availability, aiming to boost yields and move farmers into strong cooperatives.
– Transparency and Accountability : The reforms are anchored in transparency, accountability, and stable policies, with Tinubu assuring, “There will be no turning back.”
– World Bank Support : The World Bank Group commits to supporting Nigeria’s reform agenda, with a $17 billion public financing package and $5 billion annual private sector support.
– Key Challenges : Infrastructure gaps, agriculture scaling, SME financing, and human development are identified as priority areas for collaboration.
Bjerde emphasized Nigeria’s influence globally, saying, “Nigeria is a frequent example in my discussions with people around the world… because the results achieved in two years are really commendable”
The Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, and the Deputy Chief of Staff to the President, Ibrahim Hassan Hadejia, were also present at the event.
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