Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Tottenham Leads Premier League Table After 2 Nil Victory Against Man City

    August 23, 2025

    Tinubu Mourns Late Journalist, Evelyn Osagie

    August 23, 2025

    Tinubu Departs Japan for State Visit to Brazil

    August 22, 2025
    Facebook X (Twitter) Instagram
    Trending
    • Tottenham Leads Premier League Table After 2 Nil Victory Against Man City
    • Tinubu Mourns Late Journalist, Evelyn Osagie
    • Tinubu Departs Japan for State Visit to Brazil
    • Haske: Why Atiku’s Son-in-Law Was Declared Wanted – EFCC
    • Frank Caprio, US judge nicknamed ‘nicest judge in the world,’ dies at 88
    • Soludo Orders Prosecution of Agunechemba Security For Assaulting Corps Member
    • Olubadan-Designate, Ladoja To Be Crowned September 26th
    • Commissioners: Edo Assembly Clears Afegbua, Seven Others
    Facebook X (Twitter) Instagram
    TheScrutinyNG
    Subscribe
    Sunday, August 24
    • Home
    • Politics
    • Business
    • News
      • World News
    • Sports
    • Interviews
    • Opinion
    • Entertainment
    • Columnists
    • ABOUT US
    TheScrutinyNG
    Home » Current Economic Reforms In Nigeria, Crucial To Long-Term Stability – World Bank
    2 Mins ReadOctober 17, 2024

    Current Economic Reforms In Nigeria, Crucial To Long-Term Stability – World Bank

    By TheScrutinyNGOctober 17, 2024No Comments2 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The World Bank has predicted that the current economic reforms ongoing in Nigeria under President Bola Ahmed Tinubu would guarantee long term stability in the country.

    This is as the global bank urged Nigerians to support the reforms, warning that opposing or reversing them could have serious negative consequences for the country.

    Speaking at the launch of the Nigeria Development Update (NDU) report in Abuja, the World Bank Country Director for Nigeria, Dr. Ndiame Diop, emphasized that while the reforms may be challenging, they are crucial for the nation’s long-term stability.

    Dr. Diop cautioned that rolling back these reforms would be detrimental, saying, “Reversing the reforms would spell doom for Nigeria.”

    In the same vein, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, reiterated the importance of staying committed to the reforms. He stated, “Any effort that is not sustained will be a waste. Together with the Governor of the Central Bank of Nigeria and the Minister of Budget and National Planning, we’ve been discussing how to stay on course.”

    Edun further explained that the government’s focus is on reducing inflation while ensuring investments flow into critical sectors such as industry, where jobs can be created. “We are prioritizing market pricing and sat down with labor unions to explain why we cannot afford to let this opportunity slip.”

    On the removal of subsidies, Edun noted, “Every day without subsidies means more funds available for education, healthcare, and other essential expenditures.”

    Also speaking, Central Bank Governor Mr. Olayemi Cardoso highlighted the importance of promoting exports in light of the exchange rate adjustments. “The moderation in the FX rate should make our goods more competitive for export and discourage the importation of unnecessary goods,” he said.

    Author

    • TheScrutinyNG
      TheScrutinyNG

      View all posts
    World Bank
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    TheScrutinyNG
    • Website

    Related Posts

    Breaking News

    Tottenham Leads Premier League Table After 2 Nil Victory Against Man City

    August 23, 2025
    Featured

    Tinubu Mourns Late Journalist, Evelyn Osagie

    August 23, 2025
    Breaking News

    Tinubu Departs Japan for State Visit to Brazil

    August 22, 2025
    Breaking News

    Haske: Why Atiku’s Son-in-Law Was Declared Wanted – EFCC

    August 22, 2025
    Breaking News

    Frank Caprio, US judge nicknamed ‘nicest judge in the world,’ dies at 88

    August 21, 2025
    Breaking News

    Soludo Orders Prosecution of Agunechemba Security For Assaulting Corps Member

    August 20, 2025

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    Editor's Picks

    Tottenham Leads Premier League Table After 2 Nil Victory Against Man City

    August 23, 2025

    Tinubu Mourns Late Journalist, Evelyn Osagie

    August 23, 2025

    Tinubu Departs Japan for State Visit to Brazil

    August 22, 2025

    Haske: Why Atiku’s Son-in-Law Was Declared Wanted – EFCC

    August 22, 2025
    Latest Posts
    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • US Politics
    • EU Politics
    • Business
    • Opinions
    • Connections
    • Science

    Company

    • Information
    • Advertising
    • Classified Ads
    • Contact Info
    • Do Not Sell Data
    • GDPR Policy
    • Media Kits

    Services

    • Subscriptions
    • Customer Support
    • Bulk Packages
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 The Scrutiny. Designed by Design Streams.

    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.