Nigeria’s Economic Reforms Earn Global Accolades

Nigeria’s bold economic reforms and stabilising macroeconomic environment are drawing significant international attention, with investors and development partners alike praising the country’s turnaround, says Nigeria’s minister of State for Finance, Dr Doris Uzoka-Anite.

Speaking at an investors forum on the sidelines of the IMF/World Bank Annual Meetings, Uzoka-Anite described Nigeria’s participation as ‘exciting and impactful,’ saying it provided a platform to showcase the nation’s rapidly unfolding success story.

‘Now that our macroeconomic environment is stabilising and growth is positive, investors can bring in funds freely and repatriate profits without forex restrictions. Confidence is surging,’ she added, ‘with investors enquiring about Nigeria’s return to the Eurobond market. When investors buy your Eurobonds, it’s a stamp of confidence in your economy.”.

She credited President Bola Ahmed Tinubu’s visionary leadership for the rapid reforms, which have already produced measurable outcomes. ‘Even the IMF and World Bank have commended us. We’ve implemented bold reforms within two years and are already seeing growth,’ she said.

According to her, the results are evident as economic growth outpaces population expansion. At the same time, inflation has fallen below 20 per cent for the first time in over five years, and forex volatility is easing. “The naira appreciates, manufacturers are pricing goods more reasonably, and non-oil exports are rising. Foreign exchange reserves have surged above $42 billion, solid funds, not borrowed money.

“These reforms are not just numbers on a page. They translate to more jobs, better social investments, lower business costs, and cheaper access to capital for Nigerians,” Uzoka-Anite said, noting that the Central Bank’s move to lower interest rates further reinforces the positive trajectory.