World Bank warns against reversal Nigeria’s economic reforms
The World Bank is urging Nigerians to support the ongoing economic reforms, emphasizing that reversing them would have severe consequences for the country.
Dr. Ndiame Diop, World Bank Country Director for Nigeria, stressed that while the reforms may be challenging, they’re crucial for Nigeria’s long-term stability.
Diop’s call to action was made at the Nigeria Development Update report launch in Abuja, where he highlighted the importance of sustaining these reforms.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, also reiterated the need for commitment to the reforms, focusing on reducing inflation and driving investments into critical sectors like industry, where jobs can be created.
He stated, “Any effort that is not sustained will be a waste. Together with the Governor of the Central Bank of Nigeria and the Minister of Budget and National Planning, we’ve been discussing how to stay on course.”
“We are prioritizing market pricing and sat down with labor unions to explain why we cannot afford to let this opportunity slip.”
By staying committed to these reforms, Nigeria can achieve economic prosperity, improve living standards, and become a model for regional growth, he stressed.
