President Bola Tinubu has pledged that Nigeria will not reverse its ongoing economic reforms, acknowledging early pain but insisting the measures are necessary to stabilize the economy and unlock long-term growth.
Speaking during a meeting with World Bank officials and senior government figures, including the coordinating minister of finance and the vice president, Tinubu said his administration had “its hands on the plough” and would not look back, stressing transparency, accountability and a shift in business orientation.
The president highlighted agriculture as a key growth driver, pointing to plans for zonal mechanization centers, improved seed programs and better access to fertilizers to boost yields. He said the goal is to move farmers from small-scale subsistence into strong cooperatives capable of creating jobs for Nigeria’s young population.
Tinubu also defended the removal of fuel subsidies and foreign-exchange reforms, saying they were difficult but necessary choices to curb corruption and stabilize the currency. While acknowledging an initial spike in inflation, he said prices have eased and reforms are creating a more predictable environment for investors.
He urged the World Bank to accelerate financing options and reduce bureaucratic hurdles to support skills development, agribusiness and private-sector growth, adding that Nigeria’s large population presents an opportunity for shared prosperity through deeper partnerships.
