World Bank Hails Tinubu’s Reforms, Warns Against Reversal

By Newsroom

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Newsroom

Posted: April 15, 2025 at 10:25 pm, Updated: April 15, 2025 at 10:25 pm

World Bank Hails Tinubu’s Reforms, Warns Against Reversal

President Bola Ahmed Tinubu just earned a major nod from the World Bank — and it’s not just a polite diplomatic tap on the back. It’s a loud, public endorsement of his administration’s economic reform drive, with a warning tucked in: reverse these reforms, and Nigeria could be staring down the barrel of economic disaster.

The World Bank’s Vice-President for Western and Central Africa, Ousmane Diagana, led a delegation that visited Nigeria’s Minister of Finance, Wale Edun, to reaffirm their support for Tinubu’s policies. The meeting, held in Abuja, was announced through a statement by Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance.

During the engagement, Diagana applauded Nigeria’s recent Gross Domestic Product (GDP) growth rate of 3.4 percent — the best the country has seen since 2014. That’s no small feat for a country still grappling with inflation, high unemployment, and the fallout from decades of mismanagement and policy inconsistency.

Diagana emphasized that Nigeria is the World Bank’s largest portfolio in Africa, with financial commitments totalling approximately $17 billion. That’s not pocket change. It means Nigeria is deeply important to the World Bank’s broader regional development strategy.

He acknowledged the efforts already underway, but warned of the urgent need to keep the momentum going.

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His words were sharp and clear: “Maintain the reforms, or risk losing the gains.” In other words, now is not the time for second-guessing or political backpedaling.

He also highlighted the importance of inclusive, job-creating growth. That’s a polite way of saying: GDP growth is nice, but if people don’t feel it in their pockets, what’s the point?

One of the specific programs he praised was Mission 300, an ambitious pan-African initiative that aims to expand energy access to 300 million people. Nigeria has taken a leading role in this project, and the World Bank wants to see it move faster — particularly when it comes to implementing social protection measures like targeted cash transfers.

Diagana’s message was double-edged: he’s impressed with what’s been done so far, but he’s also keeping his foot on the gas pedal, pressing Nigeria to act faster and smarter.

In response, Finance Minister Wale Edun didn’t shy away. He reaffirmed the government’s commitment to implementing Tinubu’s vision and laid out three key focus areas: speed up project delivery, verify 15 million individuals biometrically for the national social register, and accelerate work on the Mission 300 initiative.

Edun also announced the creation of a Compact Delivery and Monitoring Unit to ensure projects don’t just get approved — they get done.

Now, what does this all mean for the average Nigerian?

Well, in plain language: if Tinubu can stay the course, Nigeria might finally crawl out of the economic rut it’s been stuck in. But if politicians start to panic, bow to pressure, or reverse these policies — then, as the World Bank warned in October 2024 — the consequences could be severe.

The international lender is not simply offering applause. It’s also offering a reality check: Nigeria has a golden opportunity, but it must play the long game. These reforms, the Bank insists, must stay in place for at least 10 to 15 years if the country wants to truly transform its economy.

This means politicians will need to stop treating reforms like fashion trends — in today, out tomorrow — and instead treat them like marathon races: long, tiring, but absolutely necessary.

Beyond the big numbers and diplomatic language, the World Bank’s support signals something larger: Nigeria’s reforms are being watched globally. Investors, donors, and even neighboring countries are paying attention.

If Nigeria fumbles, it won’t just hurt the country — it could affect the entire region’s economic credibility.

Some of the key priority areas for Nigeria’s partnership with the World Bank include:

Boosting agricultural productivity.
Improving access to finance for small and medium-sized enterprises (SMEs).
Accelerating digital transformation.
Expanding financial inclusion.

These aren’t new problems — they’ve haunted Nigeria for decades. What’s new is the level of coordination, global support, and the firm tone being taken by the likes of Diagana. He’s not mincing words, and neither should we.

The Tinubu administration now sits at a crossroads. On one side is reform, growth, and possibly the long-awaited economic revival. On the other is the old, well-worn path of political convenience, waste, and stagnation.