Anna Bjerde, World Bank’s Managing Director, Operations, says Nigeria is now frequently cited globally as an example of steady, credible reform leadership.
Bjerde made the remark at a meeting on Tuesday with President Bola Tinubu and Vice President Kashim Shettima at the State House, Abuja.
The World Bank Chief 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, had built strong confidence among investors, policymakers, and the private sector.
She highlighted the forthcoming Country Partnership Framework as being firmly anchored on Nigeria’s 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.
President Bola Tinubu reaffirmed the government’s commitment to the ongoing economic reforms, acknowledging that though the process has been challenging, “there will be no turning back.”
The President stressed that while the subsidy removal and the unification of exchange rates initially triggered inflation, it had since reduced significantly, and the naira had stabilised, improving investor confidence and ease of doing business.
According to President Tinubu, the reforms being implemented are anchored on transparency, accountability, and stable policies.
President Tinubu highlighted agricultural transformation as a priority of his administration, noting that investments have been made in the sector through zonal mechanisation centres, improved seed development, and fertiliser availability, supported by the growing petrochemical industry, to boost yields and move farmers from small-scale operations into strong cooperatives.
“Nigeria is the heart of the continent, and we must do what’s necessary to strengthen the economy, particularly looking at the young population of this country, looking at the vast area of arable lands.
“How do we employ mechanisation and make agriculture easier? I have embarked upon that. We have created zonal mechanisation centres to help the farmers,” he said.
The President called on the World Bank to deepen its partnership with Nigeria by accelerating financing options, reducing bureaucracy, sharing development models, managing risks, and building local skills to fast-track inclusive growth and prosperity.