Nigeria’s Ambassador and Permanent Representative to the United Nations, Jimoh Ibrahim, has said that the economic reforms introduced by President Bola Ahmed Tinubu are beginning to show early signs of stability.
According to a statement released on Wednesday, Ibrahim made the remarks in New York while presenting his letter of credence to the UN Secretary-General, António Guterres.
During the meeting, the ambassador outlined Nigeria’s economic policy direction under the current administration, noting that recent reforms are helping to stabilise key macroeconomic indicators.
He said major policy steps, including the removal of fuel subsidies and the unification of the foreign exchange market, have contributed to improving Nigeria’s macroeconomic fundamentals.
The envoy added that tighter monetary policies introduced by the Central Bank of Nigeria are also helping to moderate inflationary pressures, while early indicators suggest a gradual stabilisation of critical economic variables.
“The reforms being pursued by President Bola Ahmed Tinubu are beginning to show results, particularly in the areas of inflation management and debt sustainability,” Ibrahim said.
He acknowledged that the reforms have triggered short-term economic adjustments, especially for households and businesses grappling with rising prices. However, he expressed optimism that ongoing structural changes would yield long-term benefits.
According to him, government investments in infrastructure and the power sector are expected to strengthen productivity and support sustainable economic growth over time.
Ibrahim also reaffirmed Nigeria’s commitment to multilateral cooperation and active participation in global initiatives aimed at promoting peace, development, and economic stability.
Responding, Guterres welcomed the envoy’s appointment and expressed confidence in continued collaboration between the United Nations and Nigeria in advancing shared development and peace objectives.
