The Director General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, has commended President Bola Tinubu's efforts to stabilize Nigeria's economy, stating that his administration's economic reforms are moving in the right direction.
Okonjo-Iweala made these remarks on Thursday while briefing journalists after a closed-door meeting with President Tinubu at the Presidential Villa in Abuja.
"The President and his team have worked hard to stabilize the economy and you can't really improve an economy unless it's stable," she stated. "He has to be given the credit for the stability of the economy, so the reforms have been in the right direction."
The WTO chief emphasized that Nigeria's next economic phase should focus on growth and implementing social safety nets to cushion the effects of ongoing reforms on citizens.
"What is needed next is growth. We now need to grow the economy and we need to put in social safety nets so that the people who are feeling the pinch of the reforms can also have some support to be able to weather the hardship," she explained.
Okonjo-Iweala further revealed that her discussions with President Tinubu centered on strategies to mitigate economic hardships faced by Nigerians while creating more jobs and stimulating economic growth.
"That's the next step, how do we build social safety nets to help Nigerians cushion the hardship they are feeling and how do we grow the economy so we can create more jobs and put money in people's pockets? These are issues we discussed with the President," she added.
The meeting comes at a critical time when many Nigerians are experiencing economic challenges due to various policy reforms implemented by the Tinubu administration, including fuel subsidy removal and foreign exchange market liberalization.
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