President Bola Tinubu has charged the World Bank to deepen and fast-track its partnership with Nigeria, declaring that his government remains committed to sustaining its economic reforms and will not reverse course despite the initial pains of adjustment.
The President, who made the call on Tuesday at the State House, Abuja, while receiving the World Bank delegation led by its Managing Director of Operations, Anna Bjerde, hinted that Nigeria had already crossed the most difficult phase of reform implementation and was determined to stay the course in the interest of long-term stability and prosperity.
His words: “I give you the assurance that since we’ve gone into this tunnel of reform, we have our hands on the plough and we’re never going to look back. Initially it was painful and difficult, but those who win are not the ones who give up along the way in difficult times”.
According to him, Nigeria as the heart of the African continent, adding that the scale of the country’s population and resources made reform not just desirable but inevitable.
He explained that strengthening the economy requires deliberate focus on Nigeria’s youthful population, its vast arable land and the need to modernise agriculture through mechanisation and improved inputs.
Tinubu outlined ongoing efforts by his government to establish zonal mechanisation centres across the country to support farmers, expand access to improved seedlings, and leverage rising petrochemical output to boost local fertiliser availability.
He emphasised that the measures were aimed at improving yields and transitioning farmers from subsistence production to large-scale cooperatives capable of creating jobs and generating wealth.
“How do we help the farmers convert the local market for fertilisers to improve their yields and move them from ordinary small-scale holders to huge cooperatives that can bring opportunities to Nigerians?” the President asked, urging the World Bank to identify areas where it could support seed development, mechanisation and agricultural value chains.
Reaffirming his administration’s reform philosophy, Tinubu stressed that transparency, accountability and market-driven policies would remain central pillars of governance.
He said difficult decisions taken on fuel subsidy removal and exchange-rate unification were necessary sacrifices for long-term gains.
“It’s difficult for a leader to look the other way in a corrupt environment where subsidy regimes or multiple exchange rates can offer quick gains. We gave that up so that the world and the country can benefit from a stable currency”.
The President acknowledged that inflation initially rose following the reforms but noted that it had since eased significantly, while the naira had stabilised.
He added that improved macro-economic conditions were already enhancing investor confidence and easing the process of doing business in and out of the country.
Tinubu called on the Bank to explore innovative financing models, reduce bureaucratic bottlenecks, help de-risk private investment and support skills development.
“How can you accelerate growth in your partnership with us is very important to me,” he said, adding that Nigeria was open to expanded engagement at any time.
Earlier in her remarks, the World Bank Chief, Anna Bjerde said Nigeria is now frequently cited globally as an example of steady, credible reform leadership.
Bjerde commended Nigeria’s reform progress over the past two years, particularly the government’s consistent resolve to stay the course despite challenges.
This consistency and the clear evidence of positive results, she said, have built strong confidence among investors, policymakers, and the private sector.
The Bank chief highlighted the forthcoming Country Partnership Framework as being firmly anchored in Nigeria’s own development vision, particularly the goal of achieving a $1 trillion GDP and 7% growth.
Bjerde underscored the importance of improving access to finance for small, medium, and large enterprises, especially mid-sized firms, which are key drivers of employment.
She acknowledged Nigeria’s focus on strengthening early childhood development as essential to long-term productivity, and assured the Bank’s support in this regard.
“Many countries around the world, even middle-income and upper-middle-income countries, are suffering again with rising levels of stunting. And here, we’ve identified early childhood development as a strong entry point. So, all of this, to say we’re looking forward to a new country partnership framework,” she said.
She reaffirmed the World Bank Group’s commitment to a programme aligned with Nigeria’s priorities, combining public and private sector support.
Bjerde stressed that the World Bank Group, through its institutions, the International Development Association (IDA), International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC), is ready to continue to support Nigeria’s reform agenda.
On his part, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the meeting came as Nigeria and the World Bank were finalising the Country Partnership Framework for 2026–2032.
He described the engagement as a reflection of a shared commitment to deepening a partnership that had evolved into a collaborative agenda for structural transformation and sustainable growth.
According to him, Nigeria’s far-reaching and internationally recognised reforms under the Renewed Hope Agenda had repositioned the economy for long-term resilience, with progress already acknowledged by rating agencies and global investors.
Edun said the new framework would prioritise large-scale infrastructure, transport, power, agriculture, human capital development and digitalisation.
Nigeria, he posited, was transitioning away from heavy reliance on sovereign borrowing towards mobilising large-scale private sector investment, with government playing a catalytic role in de-risking projects.
He said the World Bank remained a trusted partner expected to scale guarantees, blended finance and risk-sharing instruments to unlock billions of dollars in global investment.
Edun emphasised that the presence of the high-level World Bank delegation was a strong signal of confidence in Tinubu’s leadership and reform direction, adding that the focus going forward was to sustain the momentum and entrench credible, long-term growth.
Deji Elumoye
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