World Bank Chief hails Nigeria as global model for credible reform leadership

A top World Bank official has described Nigeria as a growing global reference point for steady and credible reform leadership, citing the country’s sustained economic policy direction and improving investor confidence.

Anna Bjerde, the World Bank’s Managing Director of Operations, made the remarks on Tuesday during a meeting with President Bola Tinubu and Vice President Kashim Shettima at the State House in Abuja.

Bjerde commended the Federal Government’s reform efforts over the past two years, noting that the administration’s consistency and resolve to stay the course despite economic challenges had earned the confidence of investors, policymakers and the private sector.

She said Nigeria is now frequently cited globally as an example of credible reform leadership and disclosed that the bank’s forthcoming Country Partnership Framework would align closely with Nigeria’s development priorities, including the goal of achieving a $1 trillion economy and 7 per cent growth rate.

President Tinubu reaffirmed his administration’s commitment to ongoing economic reforms, stressing that there would be “no turning back.”

He acknowledged that the removal of fuel subsidy and the unification of foreign exchange rates initially triggered inflationary pressures but said inflation has since eased and the naira has stabilised, improving the business environment and investor confidence.

According to the President, the reforms are anchored on transparency, accountability and stable policies.

Tinubu also highlighted agriculture as a key priority, pointing to investments in zonal mechanisation centres, improved seed development and fertiliser supply, supported by the expanding petrochemical industry, to boost productivity and move farmers into cooperatives.

He urged the World Bank to deepen its support for Nigeria through faster financing, reduced bureaucracy, knowledge sharing and capacity building to accelerate inclusive growth.

Bjerde, in response, emphasised the importance of expanding access to finance for small, medium and mid-sized enterprises, describing them as critical drivers of job creation. She also praised Nigeria’s focus on early childhood development as vital to long-term productivity and pledged the bank’s continued support.

She reaffirmed that the World Bank Group, through its International Development Association, International Bank for Reconstruction and Development and the International Finance Corporation, would continue backing Nigeria’s reform agenda.

The meeting was also attended by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Deputy Chief of Staff to the President, Ibrahim Hassan Hadejia.