President Bola Tinubu says Nigeria’s reform agenda is
irreversible, adding that the country will not retreat from its economic
reforms.
Tinubu spoke to the World Bank on Tuesday alongside
Vice-President Kashim Shettima, who received a delegation from the World Bank
led by Anna Bjerde, managing director of operations in the State House, Abuja.
“Since we gone into this tunnel of reform, we have our hands
on the plough and we’re never going to look back,” the president said.
“It is very clear that initially it was painful, difficult,
but those who win are not the ones who give up on their way in the difficult
times.”
He outlined priorities like agricultural mechanisation to
tap into the country’s vast arable lands and youthful population.
Seeking the bank’s support, Tinubu said he is working to
make farming easier through mechanisation centers that support farmers with
seeds to boost productivity.
He said gains from the reforms to include reduced inflation
and a stable naira.
“What is the value of encouragement for an African that is
taking this huge population on an assurance of prosperity? How can you
accelerate that growth? In your Partnership with us is very important to me…
please accelerate that,” he said.
Tinubu asked World Bank to accelerate the growth by
partnering with the country on innovative financing.
‘TINUBU’S REFORMS NOW GLOBAL REFERENCE POINT’
Bjerde said Nigeria has become a frequent global reference
point for reform implementation and results.
“Nigeria is a frequent example in my discussions with people
around the world, presidents around the world, policymakers around the world,
investors around the world, because I think in these two years, the results
that have been achieved are really commendable,” she said.
Bjerde said the World Bank sees Nigeria’s reform progress as
steady and notable, while commending Tinubu for staying the course to achieve
desired results.
“Even when reform implementation can be difficult, there is
no turning back. You’re staying the course, because it is what’s needed to get
the results that you’re looking for,” she said.
The bank’s director outlined the Bretton Woods institution’s
jobs-focused plan for Nigeria, aligning with Tinubu’s $1 trillion GDP vision,
targeting infrastructure, agriculture, SMEs, and human development.
She also highlighted $17 billion public-sector support, $5
billion annual International Finance Corporation (IFC) funding, and guarantees
to boost job creation.
Bjerde added that Nigeria is top country to watch in Africa,
appreciating the government’s openness to World Bank partnerships, and
commending the nation’s digital initiatives and private sector growth.
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