Anna Bjerde, the World Bank’s Managing Director of Operations, has declared Nigeria a global benchmark for steady and credible reform leadership.
The statement positions the nation’s recent policy shifts as a model for other economies navigating similar challenges.
Bjerde made the declaration during a meeting with President Bola Ahmed Tinubu and Vice President Kashim Shettima at the State House, Abuja, on Tuesday.
She stated that Nigeria is now “frequently cited globally as an example of steady, credible reform leadership,” applauding the government’s consistent resolve to stay its course over the past two years despite initial hardships.
She attributed growing investor confidence and private sector optimism directly to this policy consistency and the emerging evidence of positive results.
“The consistency and the clear evidence of positive results have built strong confidence among investors, policymakers, and the private sector,” Bjerde said.
Her remarks were anchored on the forthcoming Country Partnership Framework, which she confirmed is being designed to align with Nigeria’s own ambitious development vision, including the goal of achieving a $1 trillion Gross Domestic Product (GDP) and 7% annual growth.
In his response, President Tinubu unequivocally reaffirmed his administration’s commitment to the ongoing reforms, stating, “there will be no turning back.” He acknowledged the inflationary shock triggered by the removal of the fuel subsidy and the unification of foreign exchange rates but highlighted that inflation has since “reduced significantly,” accompanied by a stabilized Naira and improved investor confidence.
The President framed the reforms as being built on a foundation of “transparency, accountability, and stable policies.” He detailed a focus on agricultural transformation, pointing to investments in zonal mechanisation centres, seed development, and fertilizer production to boost yields and move farmers into stronger cooperatives.
“Nigeria is the heart of the continent, and we must do what’s necessary to strengthen the economy,” President Tinubu stated, emphasizing the need to harness the country’s young population and vast arable land.
He called on the World Bank to deepen the partnership by accelerating financing, reducing bureaucracy, and sharing developmental models to fast-track inclusive growth.
Bjerde concurred on the need for a robust partnership, underscoring the Bank’s readiness to support Nigeria through its institutions—the International Development Association (IDA), the International Bank for Reconstruction and Development (IBRD), and the International Finance Corporation (IFC). She specifically highlighted the critical need to improve access to finance for small, medium, and large enterprises, which are vital for job creation.
The meeting was also attended by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Deputy Chief of Staff to the President, Ibrahim Hassan Hadejia.
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