Director-General of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala, has praised President Bola Tinubu for his administration’s efforts in stabilising Nigeria’s economy.

 

Speaking to State House correspondents after a meeting with the president at the Presidential Villa, Abuja, on Thursday, Okonjo-Iweala said the president and his economic team deserved credit for achieving macroeconomic stability, a necessary foundation for further progress.

 

“We think that the President and his team, and we just exchanged with him, have worked hard to stabilise the economy,” she said. “You cannot improve an economy unless it’s stable, so he has to be given the credit for the stability of the economy.”

 

She noted that the reforms introduced by the Tinubu administration had been in the right direction but stressed that the next phase must focus on expanding the economy and creating opportunities for citizens.

 

“What is needed next is growth. We now need to grow the economy and we need to put in a social safety net, so that people who are feeling the pinch of the reforms can also have some support to be able to weather the hardship,” she explained.

 

The WTO chief emphasised that cushioning the hardship caused by reforms should be a priority. According to her, the government must find ways to provide social protection for vulnerable Nigerians while simultaneously pursuing policies that will stimulate job creation and increase household incomes.

 

“These are issues that we discussed with Mr President, how to build a social safety net to help Nigerians and how to grow the economy so we can create more jobs and put more money in people’s pockets,” she added.