Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), has commended President Bola Tinubu’s economic strategies, describing them as steps in the “right direction” toward stabilizing Nigeria’s faltering economy.
Addressing journalists after a courtesy visit to the State House in Abuja, Okonjo-Iweala emphasized that true economic improvement hinges on prior stability. “You cannot really improve an economy unless it’s stable,” she remarked. Accordingly, she endorsed crediting the President for the stabilization efforts accomplished so far .
Looking beyond stability, the WTO chief urged a deliberate shift in focus toward fostering economic growth and providing support for vulnerable Nigerians. “What is needed next is growth … we need to put in social safety nets so that people who are feeling the pinch of the reforms can also have some support to be able to weather the hardship” .
The next phase, Okonjo-Iweala stated, should involve:
- Growth acceleration through job creation and expanded income opportunities.
- Implementation of social safety nets to cushion the impact of reforms on citizens struggling with rising costs .
Launch of New Women Exporters Fund
Notably, during the visit, Okonjo-Iweala also participated in launching the Women Exporters Fund for the Digital Economy, hosted in collaboration with the First Lady, Senator Oluremi Tinubu. The initiative, a joint venture between the WTO and the International Trade Centre (ITC), supports female entrepreneurs navigating economic hardship through direct financial backing and business development support .
