President Bola Tinubu has called on the World Bank to deepen its support for Nigeria’s ongoing economic reforms, with emphasis on agriculture, youth employment and private sector growth, as his administration intensifies efforts to strengthen the economy and expand opportunities for citizens.
The president made the appeal on Tuesday while receiving a delegation from the World Bank led by its Managing Director of Operations, Anna Bjerde, at the State House, Abuja.
Tinubu said his administration remained firmly committed to the reform agenda despite the initial challenges, noting that the government would not reverse course. “Since we went into this tunnel of reform, we have our hands on the power and we’re never going to look back. Initially, it was painful and difficult, but those who win are not the ones who give up in difficult times,” he said.
He stressed the need to modernize and mechanize agriculture to boost productivity and create jobs for Nigeria’s large youth population, explaining that the government was establishing mechanisation centres to support farmers with improved seedlings and fertilisers. According to him, the objective is to transition farmers from small-scale operations to large cooperatives capable of creating wider economic opportunities.
The president also highlighted the petrochemical sector and other domestic industries as priority areas where the government is working to increase output and strengthen local markets. He said reforms must be continuous and anchored on transparency, accountability and economic stability.
Acknowledging that the early phase of reforms triggered high inflation, Tinubu said the situation had improved significantly, adding that inflation had eased and the naira stabilized. He assured that the government was focused on creating an enabling environment for investors by reducing bureaucracy and investing in skills development.
In her remarks, Bjerde commended the Tinubu administration for its steady and consistent approach to reforms over the past two years, describing Nigeria as a global example of reform implementation. She said the clarity and persistence of the reform message had boosted confidence among investors and policymakers.
“The results achieved in the last two years are commendable. Your steady communication of the importance of reforms has given confidence and clarity, and there is no turning back,” she said.
Bjerde underscored the urgency of job creation, particularly for young people, noting that Africa’s rapidly growing youth population made employment generation critical. She identified agriculture and small and medium-sized enterprises as central to job creation, stressing that innovations in mechanisation, cooperatives, value-chain development and infrastructure could be scaled to expand opportunities.
She also outlined the World Bank’s financial support for Nigeria, including $17 billion in public sector financing, $5 billion in private sector support through the International Finance Corporation, and investment guarantees exceeding $500 million. According to her, the support aligns with Nigeria’s reforms in areas such as trade, digital development and inflation management to stimulate private sector growth and human capital development.
Bjerde added that the World Bank was committed to working with Nigeria to accelerate economic growth, improve access to finance for SMEs and support early childhood development as part of a broader human development strategy.
The meeting highlighted Nigeria’s drive to attract international support for strategic reforms, particularly in sectors critical to youth employment, food security and sustainable economic growth.
