Nigeria To Get Foreign Partnership On Economic Reforms

The Organisation for Economic Co-operation and Development (OECD) has pledged to provide robust economic and investment data to support policy planning, investor confidence and the implementation of reforms in Nigeria.

The organisation made the pledge during a meeting between its senior officials and President Bola Tinubu in Kigali, Rwanda yesterday.

According to a statement by presidential spokesman, Bayo Onanuga, held on the sidelines of the Africa CEO Forum 2026, the meeting focused on how the OECD could partner with Nigeria to advance reforms in public finance, investment facilitation, trade competitiveness, MSME development, agriculture, pharmaceuticals, and solid minerals.

Frantisek Ruzicka, the OECD Deputy Secretary-General, commended the Tinubu administration’s reform agenda and discussed possible frameworks for cooperation to support Nigeria’s economic transformation priorities.

“We support and understand the pillars of your reforms. I think other leaders should learn from you, especially in improving public finances and working conditions. OECD can be partners with you on the ongoing reforms, particularly the priorities.” Ruzicka said.

Discussions also centred on improving investor confidence, addressing risk-perception challenges related to Africa, and strengthening transparency and policy consistency to attract long-term capital.

President Tinubu emphasised the need to change global perceptions about Africa’s investment environment, stressing that accountability and discipline remain critical to attracting sustainable capital and long-term partnerships.

“Africa’s risk perception must change. Africa must be disciplined and accountable over various projects. We welcome a structured cooperation between Nigeria and OECD in support of ongoing reforms in Nigeria,” the President said.

President Tinubu explained his administration’s economic reforms, particularly the removal of fuel subsidies and the unification of the foreign exchange rates, describing the measures as difficult but necessary decisions taken in the national interest.

“The removal of the subsidy was necessary. Yes. There was a fight back. Easy access is hard to give up. Even the multiple exchange rates had to go. I have come to serve my people, not to benefit a few,” President Tinubu stated.

The president emphasised the importance of value-chain development, particularly in agriculture and pharmaceuticals, noting that Africa must move beyond raw material exports and build stronger regional production systems capable of supporting industrialisation and job creation.

The meeting discussed opportunities under the African Continental Free Trade Area framework, including regional trade integration, support for small businesses, and enabling African firms to participate more effectively in global value chains.

Key areas identified at the meeting for cooperation are: Pharmaceuticals; MSMEs and regional industrialisation; Agriculture and value-chain development; Investment promotion; Solid minerals; and Tax-to-GDP reforms.

The OECD also discussed investment screening mechanisms and structured policy engagement frameworks to support investor decision-making and improve access to financing.

President Tinubu reiterated that transparency, market confidence, and stable reforms remain central to Nigeria’s economic strategy, stressing that Africa must increasingly shape global economic narratives from a position of confidence and competitiveness.