The World Bank has described Nigeria as a country increasingly cited around the world as an example of steady and credible reform leadership.
Anna Bjerde, the World Bank’s Managing Director of Operations, made the remark on Tuesday during a meeting with President Bola Tinubu and Vice President Kashim Shettima at the State House, Abuja. She was accompanied by other senior officials of the Bank.
Bjerde commended Nigeria’s reform progress over the past two years, noting that the government’s consistent resolve to stay the course despite economic and social challenges has yielded visible results.
She said the consistency of reforms and clear evidence of positive outcomes have strengthened confidence among investors, policymakers and the private sector, positioning Nigeria as a reference point in global reform discussions.
The World Bank official also highlighted the forthcoming Country Partnership Framework, noting that it is firmly anchored in Nigeria’s development priorities, particularly the ambition to achieve a $1 trillion gross domestic product and 7 per cent economic growth.
President Bola Tinubu, in his response, reaffirmed his administration’s commitment to ongoing economic reforms, stressing that despite initial difficulties, the government remains resolute.
“Though the process has been challenging, there will be no turning back,” the President said.
He acknowledged that subsidy removal and the unification of exchange rates initially triggered inflationary pressures but noted that inflation has since eased and the naira has stabilised, improving investor confidence and the ease of doing business.
According to Tinubu, the reforms are anchored on transparency, accountability and policy stability.
The President identified agricultural transformation as a major priority of his administration, explaining that investments are being channelled into the sector through zonal mechanisation centres, improved seed development and increased fertiliser availability, supported by growth in the petrochemical industry.
“Nigeria is the heart of the continent, and we must do what’s necessary to strengthen the economy, particularly considering our young population and vast arable land. How do we employ mechanisation and make agriculture easier? I have embarked upon that. We have created zonal mechanisation centres to help the farmers,” he said.
Tinubu 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.
Bjerde, in her remarks, underscored the importance of improving access to finance for small, medium and large enterprises, particularly mid-sized firms that play a critical role in job creation.
She also praised Nigeria’s focus on early childhood development, describing it as vital to long-term productivity, and assured the Bank’s continued support in the area.
“Many countries around the world, even middle-income and upper-middle-income countries, are again experiencing rising levels of stunting. Here, we’ve identified early childhood development as a strong entry point. So, all of this is to say we are looking forward to a new country partnership framework,” she said.
Bjerde reaffirmed the World Bank Group’s commitment to supporting Nigeria’s reform agenda through its institutions, including the International Development Association, the International Bank for Reconstruction and Development and the International Finance Corporation.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Deputy Chief of Staff to the President, Ibrahim Hassan Hadejia, were also present at the meeting.
