Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has commended President Bola Ahmed Tinubu for taking decisive steps to stabilise Nigeria’s economy, describing his reform agenda as a move in the right direction.
Speaking on Thursday during a courtesy visit to the President at the State House, Abuja, the former finance minister said the administration had laid the foundation for economic recovery but must now prioritise growth and targeted support for struggling citizens.
“The president and his team have worked hard to stabilise the economy. You cannot improve an economy unless it is stable, and he deserves credit for that,” she said.
Okonjo-Iweala noted that while reforms such as currency adjustments and subsidy removal had begun to yield stability, their impact had left many Nigerians facing hardship.
She stressed the need for urgent measures to cushion the effects on vulnerable groups.
“We now need to grow the economy and put social safety nets in place so those feeling the pinch can have support to weather the hardship. The next step is creating jobs and putting more money in people’s pockets,” she added.
The WTO chief disclosed that discussions with President Tinubu touched on strategies for expanding economic opportunities, though she did not reveal details.
Since assuming office in May 2023, Tinubu’s administration has embarked on sweeping economic reforms, including the removal of fuel subsidies and the unification of the foreign exchange rate — policies lauded by international financial bodies but criticised locally for triggering inflation and eroding purchasing power.
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