The World Bank has praised President Bola Ahmed Tinubu’s reform agenda, describing Nigeria as a recurring global example of effective and successful reform implementation.
The Bank’s Managing Director of Operations, Anna Bjerde, made this remark during a visit to the State House in Abuja, noting that Nigeria’s reform outcomes over the past two years have attracted widespread attention among global leaders, policymakers, and investors.
According to Bjerde, Nigeria is frequently referenced in international discussions due to the speed and scale of reforms achieved within a short period.
“Nigeria is a frequent example in my discussions around the world because the results achieved in two years are really commendable,” she said.
She commended President Tinubu’s leadership and consistency in pushing through difficult reforms, stressing that the administration has remained resolute despite challenges.
“Even when reform implementation is difficult, there is no turning back. You are staying the course,” she added.
Bjerde also disclosed that the World Bank is preparing a new reform-linked budget support programme alongside expanded risk guarantees, noting that the Bank’s financial support aligns closely with the government’s reform efforts.
“Your reforms and our budget support go hand in hand,” she said.
In response, President Tinubu reaffirmed his administration’s commitment to the reform agenda, declaring that the policies are irreversible.
“We have our hands on the plough, and we are not looking back,” the president said. “Since we went into this turn of reform, we are never going to retreat.”
He acknowledged that the reforms initially brought economic pain but emphasized that they were necessary to achieve long-term stability and growth. The president also highlighted progress in stabilising inflation.
“The first reaction was high inflation, but it has come down dramatically. Now that it is stable, we can help investors,” Tinubu stated.
President Tinubu further reiterated his commitment to transparency, economic growth, and investor confidence, while urging the World Bank to accelerate innovative financing initiatives and deepen its partnership with Nigeria.
