Nigeria has emerged as a global reference point for steady and credible economic reform leadership, the World Bank has said.
Anna Bjerde, Managing Director of Operations at the World Bank, made the remark on Tuesday during a meeting with President Bola Tinubu and Vice President Kashim Shettima at the State House, Abuja.
Bjerde commended Nigeria’s reform trajectory over the past two years, noting that the government’s consistency and determination to stay the course despite challenges have strengthened confidence among investors, policymakers and the private sector.
According to her, Nigeria is now frequently cited internationally as an example of reform credibility, with clear evidence that the policies being implemented are yielding positive results.
She said the forthcoming Country Partnership Framework between Nigeria and the World Bank is firmly anchored in the country’s development priorities, particularly the ambition to achieve a $1 trillion economy and sustain 7 per cent growth.
President Tinubu reaffirmed his administration’s commitment to ongoing economic reforms, stressing that although the process has been difficult, there would be “no turning back.”
He acknowledged that the removal of fuel subsidy and the unification of exchange rates initially fuelled inflation but noted that inflation has since moderated, while the naira has stabilised, improving investor confidence and the ease of doing business.
The President said the reforms are rooted in transparency, accountability and policy stability.
Tinubu also highlighted agriculture as a major priority, pointing to investments in zonal mechanisation centres, improved seed development and fertiliser availability, supported by the growing petrochemical industry, to boost productivity and move farmers into stronger cooperatives.
“Nigeria is the heart of the continent, and we must do what’s necessary to strengthen the economy, especially considering our young population and vast arable land,” he said.
The President urged the World Bank to deepen its partnership with Nigeria by accelerating financing options, reducing bureaucracy, sharing development models, managing risks and building local capacity to drive inclusive growth.
Bjerde, in her remarks, emphasised the importance of improving access to finance for small, medium and large enterprises, particularly mid-sized firms, which she described as critical to job creation.
She also praised Nigeria’s focus on early childhood development, describing it as vital for long-term productivity, and assured the World Bank’s continued support.
She reaffirmed the World Bank Group’s commitment to aligning its programmes with Nigeria’s priorities through its institutions — the International Development Association (IDA), International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC).
Also present at the meeting were the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Deputy Chief of Staff to the President, Ibrahim Hassan Hadejia.