The World Bank has designated Nigeria a global reference point for steady and credible economic reform leadership, applauding the administration’s consistent resolve to navigate complex structural changes.
Anna Bjerde, the World Bank’s Managing Director of Operations, delivered this commendation on Tuesday during a high-level meeting with President Bola Tinubu and Vice President Kashim Shettima at the State House.
Bjerde noted that Nigeria is now frequently cited in international circles as an example of how a nation can maintain policy momentum despite significant domestic challenges.
She highlighted that the government’s refusal to waver on its economic trajectory has successfully restored confidence among global investors and the private sector.
This endorsement comes as the Bank prepares a new Country Partnership Framework, which Bjerde confirmed is explicitly designed to support Nigeria’s ambitious goal of achieving a $1 trillion GDP and a 7% annual growth rate.
Responding to the Bank’s appraisal, President Tinubu reaffirmed that his administration’s commitment to radical fiscal and monetary adjustments remains absolute.
While acknowledging the initial inflationary pressures triggered by the removal of the petrol subsidy and the unification of exchange rates, the President pointed out that the Naira has stabilized and inflation is trending downward.
He emphasized that the era of policy flip-flops is over, replaced by a framework anchored in transparency and accountability.
A significant portion of the discussion focused on the President’s vision for a modernized agricultural sector.
Tinubu revealed that the administration is aggressively moving farmers from subsistence levels into high-output cooperatives through the establishment of zonal mechanization centers and the localized production of fertilizers via Nigeria’s expanding petrochemical industry.
The President argued that leveraging Nigeria’s vast arable land and young population is the only sustainable path to creating massive employment.
The World Bank chief further underscored the necessity of boosting credit access for small and medium-sized enterprises (SMEs), identifying them as the primary engines of job creation.
Bjerde also expressed concern over rising global stunting levels, even in middle-income countries, and praised Nigeria’s focus on early childhood development as a critical entry point for long-term national productivity.
To fast-track these goals, President Tinubu urged the World Bank to reduce bureaucratic bottlenecks and accelerate financing options.
He called for a partnership that goes beyond traditional lending to include risk management, skill building, and the sharing of successful global development models.
The meeting, which included the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, concluded with a reaffirmed pledge from the World Bank Group through the IDA, IBRD, and IFC to provide a unified front in supporting Nigeria’s inclusive growth agenda.
