Politics

Global Trade Chief Okonjo-Iweala Hails Tinubu’s Bold Economic Moves

Published by Akinwale Fakinlede on August 14th, 2025.

The Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, has commended President Bola Ahmed Tinubu for implementing far-reaching economic reforms aimed at revitalizing Nigeria’s economy.

Speaking during a high-level engagement with Nigerian officials in Abuja, Okonjo-Iweala described the reforms as “bold, necessary, and in the right direction,” noting that they have the potential to stabilize the nation’s fiscal framework and attract much-needed investment.

“The steps being taken are challenging but essential. The reforms are in order, and if sustained, they will yield positive results for the Nigerian people,” she said.

Since assuming office in May 2023, President Tinubu’s administration has initiated sweeping changes, including the removal of the decades-old fuel subsidy and the unification of the foreign exchange rate. While these measures initially triggered inflationary pressures and public concern, economic analysts argue that they lay the groundwork for long-term stability and growth.

Okonjo-Iweala, a former Nigerian finance minister, acknowledged the hardship faced by citizens in the short term but emphasized the importance of patience and policy consistency. She also pledged the WTO’s readiness to support Nigeria in harnessing trade opportunities to boost non-oil exports and diversify revenue sources.

Economic observers view her remarks as a significant endorsement from the global trade body, underscoring international recognition of Nigeria’s policy shift. The WTO chief urged the government to complement its reforms with targeted social safety nets, ensuring that vulnerable groups are protected during the transition period.

President Tinubu, in response, reiterated his administration’s commitment to steering Nigeria toward a sustainable economic path, promising that ongoing reforms would be followed by concrete measures to spur job creation and reduce poverty.

As Nigeria navigates this transformative phase, both local and international attention will remain fixed on the outcomes of these reforms and their impact on Africa’

s largest economy.