Nigeria is increasingly recognised globally for its steady and credible reform efforts, Anna Bjerde, Managing Director of Operations at the World Bank, stated on Tuesday.
Bjerde made the remark during a meeting with President Bola Ahmed Tinubu and Vice President Kashim Shettima at the State House in Abuja. She was accompanied by other senior officials of the World Bank. Also present were Finance Minister and Coordinating Minister of the Economy Wale Edun, and the President’s Deputy Chief of Staff, Ibrahim Hassan Hadejia.
The World Bank chief commended Nigeria’s reform achievements over the past two years, highlighting the government’s determination to maintain consistent policies despite numerous challenges. She noted that the country’s steady progress and clear evidence of positive outcomes have boosted confidence among investors, policymakers, and the private sector.
Bjerde also referenced the upcoming Country Partnership Framework, which she said aligns closely with Nigeria’s development agenda, particularly its target of achieving a $1 trillion GDP and sustaining seven per cent economic growth.
President Tinubu reaffirmed his administration’s commitment to economic reforms, acknowledging the difficulties involved but stressing that “there will be no turning back.” He highlighted that while the removal of fuel subsidies and the unification of exchange rates initially contributed to inflation, prices have since eased, and the naira has stabilised, enhancing investor confidence and improving the business environment.
The President emphasised that the government’s reforms are rooted in transparency, accountability, and policy stability. Agricultural transformation remains a key priority, he noted, with investments in zonal mechanisation centres, improved seed varieties, and increased fertiliser availability. Supported by the growing petrochemical sector, these measures aim to shift farmers from small-scale operations into strong, cooperative-driven agriculture.
“Nigeria is the heart of Africa, and we must strengthen the economy, harnessing the potential of our young population and abundant arable land,” Tinubu said. “Mechanisation is key, and we have created zonal mechanisation centres to support farmers.”
The President also urged the World Bank to expand its partnership with Nigeria by facilitating financing, reducing bureaucratic hurdles, sharing development models, managing risks, and developing local expertise to accelerate inclusive growth.
In response, Bjerde stressed the importance of improving access to finance for small, medium, and large enterprises, particularly mid-sized firms that drive employment. She also praised Nigeria’s focus on early childhood development, calling it a vital foundation for long-term productivity, and reaffirmed the World Bank’s support for these initiatives.
“Even middle- and upper-income countries are struggling with rising stunting rates,” Bjerde said. “We see early childhood development as a critical entry point, and we look forward to a Country Partnership Framework that aligns with Nigeria’s priorities and combines public and private sector support.”
She concluded by reaffirming the World Bank Group’s commitment to supporting Nigeria’s reform agenda through its institutions, including the International Development Association (IDA), the International Bank for Reconstruction and Development (IBRD), and the International Finance Corporation (IFC).
