‎Tinubu says there’s ‘no going back’ on economic reforms, urges World Bank support

Abuja, Nigeria — President Bola Tinubu has reaffirmed his administration’s commitment to Nigeria’s ambitious economic reforms, insisting that the government will not reverse course despite early challenges and public difficulties.
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‎Tinubu made the declaration on Tuesday, February 3, 2026, while receiving a World Bank delegation led by Managing Director of Operations Anna Bjerde at the State House in Abuja. The president described the reform programme as essential to strengthening the nation’s economy and creating opportunities for its large youth population.
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‎“Since we went into this journey of reform, we have our hands on the plough, and we’re never going to look back,” Tinubu said, acknowledging that the adjustments were initially painful but necessary. “Those who win are not those who give up along the way in their difficult times.”
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‎President Tinubu highlighted agricultural mechanisation, improved access to fertilisers and seeds, and the expansion of farming cooperatives as key priorities in driving growth and reducing unemployment. He also pointed to progress in the petrochemical sector and urged the World Bank to help accelerate financing models that could support infrastructure development and skills training.
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‎Tinubu noted that difficult policy decisions — including the end of the fuel subsidy regime and the unification of the exchange rate — had initially contributed to high inflation but said inflation has since eased and the naira is now stable.
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‎In response, Ms. Bjerde praised Nigeria’s steady reform efforts over the past two years, noting that the country has become a reference point in global discussions for steadfast policy implementation.
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‎She outlined the World Bank’s support, which includes public-sector financing and private-sector investment initiatives aligned with Nigeria’s vision of reaching a $1 trillion economy and sustained growth.
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‎The World Bank official emphasised the importance of infrastructure investment, job creation, and support for small and medium enterprises as part of the partnership framework.
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