ABUJA – The World Bank has held up Nigeria as a premier global example of “steady and credible” reform leadership, revealing that the nation’s economic turnaround is now a frequent subject of praise among international investors and policymakers.
During a high-level visit to the State House in Abuja on Tuesday, the World Bank’s Managing Director of Operations, Ms. Anna Bjerde, commended President Bola Tinubu for his “courageous” consistency. She noted that despite the initial friction of policy shifts, Nigeria has successfully moved from a state of economic uncertainty to a reference point for emerging markets.
“Nigeria is a frequent example in my discussions around the world,” Bjerde said. “The results achieved in just two years are truly commendable. Even when implementation is difficult, there is no turning back. You are staying the course.”
A New Chapter of Financing
The visit wasn’t merely ceremonial. Ms. Bjerde announced that the World Bank is finalizing a new Country Partnership Framework (2026–2032), designed to align with President Tinubu’s ambitious goal of achieving a $1 trillion economy.
Key financial commitments discussed include:
- A new reform-linked budget support programme to provide immediate fiscal breathing room.
- Expanded risk guarantees aimed at de-risking the Nigerian market for private capital.
- Continued management of a $17 billion public-sector portfolio and $5 billion annual investment through the International Finance Corporation (IFC).
”Hands on the Plough”
Responding to the accolades, President Tinubu reaffirmed that the days of policy flip-flops are over. He described the administration’s reforms—including the unification of the foreign exchange market and the removal of the petrol subsidy—as “irreversible.”
“Since we went into this tunnel of reform, we have our hands on the plough and we are never going to look back,” the President stated.
Addressing the “initial pains” of the reforms, the President highlighted recent macroeconomic gains. He noted that while inflation initially spiked, it has moderated significantly—dropping to 15.15% as of late 2025—while the Naira has found a stable footing, creating a more predictable environment for business.
Focus on the Grassroots
The President urged the World Bank to move faster on “innovative financing” that directly impacts productivity. He specifically pointed to agricultural mechanization and the Renewed Hope Ward Development Programme, which aims to pull 10 million Nigerians into productive activity through local empowerment.
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The meeting concluded with a commitment to deepen the partnership, focusing on infrastructure, digital economy, and “early childhood development” to ensure that the economic growth is not just rapid, but inclusive.
