Nigeria has been recognised by the World Bank as a global reference point for credible and steady economic reforms, with the lender pledging deeper cooperation to support the country’s development agenda.
The commendation came during a meeting at the State House in Abuja on Tuesday, where President Bola Tinubu and Vice President Kashim Shettima received a World Bank delegation led by Anna Bjerde, the Bank’s Managing Director of Operations.
Bjerde praised Nigeria’s reforms over the past two years, highlighting the government’s consistency in implementing policies despite economic challenges. She said this has strengthened confidence among investors, policymakers, and the private sector.
“The forthcoming Country Partnership Framework will be firmly aligned with Nigeria’s own development vision, particularly the goal of achieving a $1 trillion GDP and 7% growth,” presidential spokesman Bayo Onanuga said.
President Tinubu reaffirmed his administration’s commitment to the ongoing reforms, acknowledging the challenges, including inflation pressures following subsidy removals and exchange rate unification, which he said have now eased. The president noted that the naira has stabilised and investor confidence has improved.
Tinubu also emphasised agricultural transformation as a key priority, citing investments in zonal mechanisation centres, seed development, fertiliser distribution, and support for cooperatives, boosted by the growing petrochemical industry.
He called on the World Bank to deepen its support by accelerating financing options, reducing bureaucratic hurdles, sharing development models, managing risks, and building local skills to promote inclusive growth.
Ms Bjerde welcomed Nigeria’s focus on strengthening early childhood development as a foundation for long-term productivity.
“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 partnership 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.
The meeting was also attended by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Deputy Chief of Staff to the President, Ibrahim Hassan Hadejia.
