World Bank Praises Successful Reforms in Nigeria

The Managing Director of Operations at the World Bank, Anna Bjerde has disclosed that the reforms implemented by the President Bola Tinubu administration have become reference points within the global space.

Bjerde, while speaking during a visit to President Tinubu at the Presidential Villa in Aso Rock Abuja commended the present administration for the successful implementation of its reform initiatives.

According to Bjerde, the outcomes delivered by the Tinubu administration’s reform initiatives since assuming office in 2023 have become issues of discussion among global leaders, policymakers and investors.

She also commended the President and his team for their consistency and resolve to bring change to the nation’s economy despite the litany of challenges it faces.

“Nigeria is a frequent example in my discussions around the world because the results achieved in two years are really commendable.”

“Even when reform implementation is difficult, there is no turning back. You are staying the course,” Bjerde said.

She further noted that a new reform-linked budget aimed at supporting the programme and expanded risk guarantees is currently being prepared.

“Your reforms and our budget support go hand in hand,” she added.

In his response, Tinubu said the reforms adopted by his administration are irreversible.

The president assured the World Bank chief that Nigeria would not retreat from following the path of growth which it has adopted.

“Since we went into this turn of reform, we are never going to look back.”

“The first reaction was high inflation, but it has come down dramatically. Now that it is stable, we can help investors,” Tinubu added.