The World Bank has described Nigeria as an emerging global reference point for steady and credible economic reform leadership, citing the country’s consistency in policy implementation despite economic challenges.
Anna Bjerde, the World Bank’s Managing Director of Operations, made the remark on Tuesday during a meeting with President Bola Ahmed Tinubu and Vice President Kashim Shettima at the State House in Abuja.
“Nigeria is now frequently cited globally as an example of steady and credible reform leadership,” Bjerde said.
commending the government’s resolve to sustain reforms over the past two years despite initial headwinds.
She noted that the administration’s consistency and early positive outcomes have strengthened confidence among investors, policymakers and the private sector.
Bjerde added that the World Bank’s forthcoming Country Partnership Framework for Nigeria is firmly anchored in the country’s development vision, particularly its ambition to achieve a $1 trillion economy and 7 per cent growth rate.
President Tinubu reaffirmed his administration’s commitment to the reform agenda, stressing that policy reversals were not an option.
“Though the reforms have been challenging, there will be no turning back,” the President said.
adding that subsidy removal and foreign exchange unification initially triggered inflation but have since contributed to macroeconomic stability.
According to Tinubu, “inflation has reduced significantly, the naira has stabilised, and investor confidence and the ease of doing business are improving.”
He said the reforms are anchored on transparency, accountability and policy consistency, while highlighting agriculture as a major pillar of the administration’s economic strategy.
“Nigeria is the heart of the continent, and we must do what is necessary to strengthen the economy, especially for our young population and vast arable land,” Tinubu said.
Explaining efforts in the sector, he added, “We have created zonal mechanisation centres to help farmers, improve productivity and move them from small-scale operations into strong cooperatives.”
The President called on the World Bank to deepen its engagement with Nigeria by accelerating financing, reducing bureaucratic processes, sharing development models, managing risks and building local capacity to drive inclusive growth.
Bjerde, in response, emphasised the importance of expanding access to finance for businesses, particularly mid-sized firms, which she described as key drivers of employment.
“Mid-sized firms play a critical role in job creation, and improving access to finance for them is essential,” she said.
She also highlighted early childhood development as central to long-term productivity, assuring Nigeria of continued World Bank support.
“Early childhood development is a strong entry point, and we are looking forward to a new country partnership framework aligned with Nigeria’s priorities,” Bjerde said.
She reaffirmed the World Bank Group’s commitment to supporting Nigeria’s reform agenda through the International Development Association (IDA), the International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC).