Skip to main content Skip to footer 
The World Bank Vice President and Chief Economist, Indermit Gill, has called on the Nigerian government to maintain its ongoing economic reforms despite the hardship they have caused. Speaking at the 30th Nigeria Economic Summit (#NES30) in Abuja, Gill acknowledged the difficulties, especially for vulnerable populations, but stressed that these reforms are crucial for long-term economic growth.
Gill commended the Central Bank of Nigeria (CBN) for unifying exchange rates and emphasized the need for cost-effective safety nets to protect those most affected by rising food and transport prices. He said, “The government must do everything in its power to protect the most vulnerable citizens against hardships because their lives and the lives of 110 million children depend on it.”
Despite the immediate challenges, Gill argued that sustaining these reforms could transform not only Nigeria’s economy but also that of the entire Sub-Saharan region. He highlighted the importance of building foreign reserves and prioritizing non-oil exports to stabilize the economy against oil price volatility.
Addressing the nation’s pressing need for jobs, Gill noted that over 12 million Nigerians would enter the workforce in the next decade, emphasizing the necessity of attracting investments in the non-oil sector to create employment opportunities.
