The World Bank has called on Nigerians to support ongoing economic reforms, cautioning that any opposition or reversal could have dire consequences for the country’s future.
Dr. Ndiame Diop, the World Bank Country Director for Nigeria, made this statement during the launch of the Nigeria Development Update (NDU) report in Abuja.
Dr. Diop emphasized the necessity of these reforms for long-term national stability, declaring, “Reversing the reforms would spell doom for Nigeria.”
He urged citizens to recognize the potential benefits these changes could bring.
Finance Minister Mr. Wale Edun echoed this sentiment, stressing the importance of commitment to the reforms.
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“Any effort that is not sustained will be a waste,” he remarked, highlighting ongoing discussions with the Central Bank Governor and the Minister of Budget and National Planning to maintain progress.
Edun further explained that the government’s focus includes reducing inflation and attracting investments into critical sectors, emphasizing, “Every day without subsidies means more funds available for education, healthcare, and other essential expenditures.”
Central Bank Governor Mr. Olayemi Cardoso added that recent exchange rate adjustments aim to enhance the competitiveness of Nigerian goods in the export market while discouraging unnecessary imports.
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