The World Trade Organisation (WTO) Director General, Dr. Ngozi Okonjo-Iweala, had yesterday applauded President Bola Tinubu's administration for stabilising the Nigerian economy with its reforms. The global personality hailed President Tinubu’s sweeping economic reforms, describing them as pivotal in restoring economic stability and laying the groundwork for sustainable growth for Nigeria.
The former finance minister stated this when she visited the president at the State House, Abuja, yesterday.
Similarly, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, reiterated that Nigeria remains “open and ready for business” with the rest of the world.
He expressed the readiness of the administration to improve economic indicators as evidence of a stable and investment-friendly environment.
According to Dr Okonjo-Iweala, the Tinubu Administration is getting it right on economic reforms, though more needs to be done to stimulate growth.
She said, “We think that the President and his team have worked hard to stabilise the economy, and you cannot improve an economy unless it’s stable.
“So, he has to be given the credit for the stability of the economy. The reforms have been in the right direction.
“What is needed next is growth. We now need to grow the economy, and we need to put in social safety nets so that people who are feeling the pinch of the reforms can also have some support to weather the hardship.”
The WTO boss lady revealed that her discussions with President Tinubu were to streamline how to build robust safety nets while unlocking growth through job creation, expanded investment opportunities, and increased household incomes across the country.
Dr Okonjo-Iweala was in Abuja to brief the President on the launch of the Women Exporters in the Digital Economy (WEIDE) Fund, a joint initiative of the WTO and the International Trade Centre (ITC), unveiled earlier with the support of the First Lady, Senator Oluremi Tinubu.
The financial expert said the $50 million global fund will be utilised to empower women entrepreneurs in digital trade.
Explaining, she said, the programme is a deliberate effort designed to help women entrepreneurs build resilience against economic shocks, create jobs, and contribute more significantly to national development.
She disclosed that after a highly competitive process involving 67,000 applicants, Nigeria emerged as one of only four countries selected globally.
About 146 Nigerian women entrepreneurs were carefully selected to participate in the first phase of the scheme.
Sixteen beneficiaries in the “booster track”, those already running businesses, will receive intensive technical and business development support for 18 months to scale up operations and create more jobs.
Meanwhile, 100 women will each receive $5,000 in direct funding along with one year of business mentorship.
“This is just the beginning. We will all work together—the WTO, the ITC, the Ministry of Trade and Investment, and the Nigerian Export Promotion Council—to make sure these businesses expand, employ more people, and put more money in both households’ pockets and the nation’s pocket,” she said.
According to her, the initiative represents a social safety net in itself, and it involves empowering women to withstand economic challenges while positioning them as drivers of inclusive growth.
Stable Economy opens Nigeria For Business – Edun
The minister of finance, Edun, who spoke during a briefing on the state of the economy, revealed that data on the country’s external sector, fiscal discipline, and subnational funding all point to a more resilient economic foundation.
He said, “When we look at the external sector, in the first quarter of 2025, the trade surplus was over $4 billion, and exports increased by 9.8 per cent.
“The exchange rate has been relatively stable, with reserves up to $39 billion in July,” Edun said.
“I think these metrics, which speak to stability, send a clear message,” he concluded.
He noted that the Tinubu administration has created “stable macroeconomic conditions against which people can plan and they can invest.”
