Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, has commended President Bola Ahmed Tinubu’s administration for its efforts in stabilising Nigeria’s economy, urging the government to now focus on policies that will spur growth and provide relief for citizens affected by ongoing reforms.
Speaking to State House correspondents after a courtesy visit to President Tinubu at the Presidential Villa, Abuja, Okonjo-Iweala noted that the President and his economic team had made significant progress in halting volatility and laying the foundation for recovery.
“So we think that the President and his team, and we just exchanged with him, have worked hard to stabilise the economy. And you cannot really improve an economy unless it’s stable,” she said.
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According to the WTO boss, the administration’s reform agenda is moving in the right direction, but there is an urgent need to complement stability with measures that will drive expansion and create jobs.
“So he has to be given the credit for the stability of the economy. So the reforms have been in the right direction. What is needed next is growth,” she stated.
Okonjo-Iweala, a former Nigerian finance minister, stressed the importance of protecting vulnerable citizens from the adverse effects of these economic changes. She called for the creation of robust social safety nets to cushion the impact of the reforms on ordinary Nigerians.
“We now need to grow the economy and we need to put in social safety nets so that people who are feeling the pinch of the reforms can also have some support to be able to weather the hardship. So that’s the next step,” she explained.
The WTO chief said her discussions with President Tinubu centred on strategies to build such safety nets and stimulate job creation.
“How do we build social safety nets to help Nigerians cushion the hardship they’re feeling? And then how do we grow the economy so we can create more jobs and put more money in people’s pockets? These are issues that we discussed with Mr. President,” she added.
Her visit comes amid ongoing public debate about the pace and impact of the Tinubu administration’s economic measures, which have included the removal of fuel subsidies and the unification of exchange rates.
, Dr. Ngozi Okonjo-Iweala, has commended President Bola Ahmed Tinubu’s administration for its efforts in stabilising Nigeria’s economy, urging the government to now focus on policies that will spur growth and provide relief for citizens affected by ongoing reforms.){kind=link}