By Iyiola Olalere
The Tinubu Media Support Group (TMSG) has described the World Bank’s latest assessment of the economic reforms of President Bola Tinubu as a testament to the hard work the current administration is putting into building a more resilient and sustainable economy.
In a statement signed by its Chairman Emeka Nwankpa and Secretary Dapo Okubanjo, TMSG pointed out that the Bank’s description of the reforms as a global reference point in implementation and outcome is the clearest indication yet that the President is indeed on course.
The statement reads in part: ” We are aware that, as a global lender working with low and middle-income countries to reduce poverty, the World Bank is not known to be usually effusive in its commentary on the Nigerian economy, especially against the background of several missed opportunities over the years.
“So, for the bank to have said, through its Managing Director in charge of operations, Anne Bjerde, that Nigeria is now a ‘frequent global reference point in discussions on reform implementation and outcomes’, then it is obvious that the current administration is doing a good job of managing the economy.
More interesting is her commendation of the President Bola Tinubu administration for ‘maintaining the momentum of economic reforms despite the political and social pressures that often accompany such measures.’
“For other close watchers of the Tinubu reforms and us, the World Bank’s position is not unexpected, because we know that no discerning individual or group would be quick to dismiss the ongoing reforms and their impact, despite the initial pains.
“We, however, note that it is not every day that the World Bank has good things to say about Nigeria, and this is why opposition figures in the current political dispensation are always quick to reference the Bank’s position on issues ranging from poverty to economic growth projections.
“We wonder what those politicians who take delight in quoting the Bank would have to say now that it has not only endorsed President Tinubu’s reforms as a success, but also made it clear that it is now a global reference on reforms implementation and outcomes.
“We invite Nigerians who are always quick to hold on to political rhetoric from such opposition elements to take a closer look at what the global lender is saying about the trajectory of the economy on President Tinubu’s watch.
“For the avoidance of doubt, the President has, since assuming office, embarked on an economic reform agenda anchored on the removal of fuel subsidy and the unification of multiple foreign exchange windows.
“These have opened the doors to several other reforms, including in the oil sector, where Nigeria has now retaken its place as Africa’s leading investment destination, and the ongoing tax reforms, which are targeted at widening the country’s tax base without necessarily piling burdens on low-income earners and small businesses.
“It was not surprising that the President reiterated his ‘no going back’ stance on the reforms to the delegation while also acknowledging, yet again, that they were initially painful and difficult at the beginning.
“We, however, note that President Tinubu used his engagement with the World Bank leadership to outline how the administration would drive agricultural mechanisation through dedicated centres that would support farmers with equipment and seeds to improve productivity.
“This is clearly the next step to boost local production and guarantee food security, using the 2,000 tractors procured from Belarus which are expected to be fully deployed within the first quarter of 2026.”
The group urged Nigerians to pay more attention to the assessment of the Tinubu reforms by rating agencies and global investors, rather than those of local politicians bent on playing politics
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