World Bank Says Nigeria On Global Map Over Reform Programme
By Naija Enquirer Staff
The World Bank has praised Nigeria as a global example of credible and steady reform leadership, citing consistent policy implementation and positive economic outcomes over the past two years.
Anna Bjerde, Managing Director of Operations at the World Bank, made the remarks during a meeting with President Bola Tinubu and Vice President Kashim Shettima at the State House in Abuja. She was accompanied by other senior Bank officials.
Bjerde commended Nigeria’s reform progress, emphasizing that the government’s consistent approach has strengthened investor confidence and reinforced the private sector’s trust in policy stability.
The World Bank chief highlighted the forthcoming Country Partnership Framework, noting that it aligns closely with Nigeria’s development vision, particularly the goals of achieving a $1 trillion GDP and 7% economic growth.
President Tinubu reaffirmed the administration’s commitment to ongoing economic reforms, stressing that while subsidy removal and exchange rate unification initially caused inflationary pressures, these have since eased, stabilizing the naira and improving the ease of doing business.
The President outlined agricultural transformation as a priority, highlighting investments in zonal mechanisation centres, improved seed development, and fertiliser availability. He said these initiatives, supported by Nigeria’s growing petrochemical sector, aim to move farmers from small-scale operations into structured cooperatives.
“Nigeria is the heart of the continent, and we must strengthen the economy, particularly focusing on our young population and vast arable lands. Mechanisation will make agriculture easier and more productive,” Tinubu stated.
The President also urged 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.
Responding, Anna Bjerde underscored the importance of improving access to finance for enterprises of all sizes, particularly mid-sized firms, which she identified as key drivers of employment. She also highlighted early childhood development as a critical factor for long-term productivity and assured the Bank’s support in this area.
“Many countries, even middle-income ones, are struggling with rising stunting levels. Early childhood development is a strong entry point for sustainable growth. We look forward to a new country partnership framework aligned with Nigeria’s priorities,” she said.
Bjerde reaffirmed the World Bank Group’s commitment to supporting Nigeria’s reform agenda through its institutions—the International Development Association (IDA), International Bank for Reconstruction and Development (IBRD), and the International Finance Corporation (IFC).
The meeting was attended by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Deputy Chief of Staff to the President, Ibrahim Hassan Hadejia, among others.
