The World Bank has emphasized that Nigeria needs to continue its current economic reforms for the next 10 to 15 years in order to position itself as a prominent economic force, both within sub-Saharan Africa and globally.
The bank emphasizes that these reforms are vital for fostering sustainable growth and development, enabling Nigeria to effectively compete with other emerging economies around the globe.
During the ongoing 30th Nigerian Economic Summit held in Abuja, which is organized by the Nigerian Economic Summit Group in collaboration with the Ministry of Budget and National Planning, Indermit Gill, the Senior Vice President of the World Bank Group, offered the advice.
The event, taking place over three days, focuses on the theme “Working Together for Growth, Competitiveness, and Stability.”
He said, “Nigeria will need to stay the course of current economic reforms for at least the next 10 to 15 years to transform its economy.
“I don’t know if you are agreeing or disagreeing with me. If these reforms are sustained, Nigeria will transform its economy and become an engine of growth in sub-Saharan Africa.
“It is very difficult to implement such reforms, but the rewards will be massive if they are maintained.”
