By Adenike Omoyele

President Bola Tinubu has called on the World Bank to support Nigeria’s ongoing economic reforms, focusing on agriculture, youth employment, and private sector growth, as part of his administration’s strategy to strengthen the economy.

The president told a delegation from the World Bank, led by Managing Director of Operations Anna Bjerde, that while reforms had been challenging, they were necessary to modernize agriculture, expand cooperatives, and improve outputs in sectors like petrochemicals.

He explained that mechanization centers had been established to assist farmers with improved seeds and fertilizers, and stressed that continuous reforms must be underpinned by transparency, accountability, and stability. President Tinubu also highlighted the government’s efforts to stabilize inflation, strengthen the Naira, and ease operations for investors while developing the skills of the Nigerian workforce.

Bjerde commended the administration’s steady reform approach, describing Nigeria as a global example for consistent implementation that inspires investor confidence. She emphasized the need for job creation for Nigeria’s growing youth population, noting the critical role of SMEs and agriculture in employment generation.

Bjerde highlighted the World Bank’s financial backing for Nigeria, including $17 billion for public sector projects, $5 billion in private sector support via the IFC, and investment guarantees over $500 million, aligned with Nigeria’s trade, digital, and inflation management reforms.

She added that the Bank aimed to work with Nigeria to accelerate growth, improve SME access to finance, and support human development initiatives, reinforcing the country’s push to attract foreign support for strategic sectors impacting youth employment and food security.