President Bola Tinubu’s economic stabilization policies receive international endorsement as World Trade Organization Director-General Ngozi Okonjo-Iweala confirms significant progress in Nigeria’s economic transformation during her recent Abuja visit.
Economic indicators demonstrate measurable improvements across key sectors, with inflation rates stabilizing at 22.41% in May 2025, down from projected peaks of 28%. Foreign exchange reserves have strengthened by 15% year-on-year, reaching $35.8 billion, while manufacturing output increased by 12% in the second quarter of 2025.
“The President and his administration have demonstrated exceptional commitment to economic stabilization through comprehensive reform implementation,” Okonjo-Iweala stated during her State House meeting with President Tinubu. “These foundational reforms create the necessary platform for sustainable economic growth and job creation.”
The WTO Director-General specifically highlighted Nigeria’s successful selection for the Women Exporters Fund, with 146 Nigerian women entrepreneurs securing grants totaling $1.46 million. The initiative, jointly managed by the WTO and International Trade Centre, targets digital economy development and women’s economic empowerment.
Nigeria emerged as one of four countries globally selected for the program following a competitive application process involving 67,000 Nigerian women entrepreneurs. Sixteen participants qualified for the booster track program, designed to scale existing businesses with enhanced technical support and funding.
Economic analysts project the women exporters program could generate approximately $25 million in additional export revenue annually, while creating 2,800 direct jobs across technology, agriculture, and manufacturing sectors. The 18-month technical support framework includes business development training, market linkage facilitation, and digital transformation assistance.
“This initiative represents our commitment to inclusive economic growth through targeted support for women entrepreneurs,” noted officials from the Ministry of Industry, Trade and Investment. The program aligns with Nigeria’s broader strategy to increase non-oil export revenues by 40% within the next 24 months.
Dr. Okonjo-Iweala emphasized the critical importance of implementing comprehensive social safety nets to support citizens during the economic transition period. She recommended accelerated deployment of conditional cash transfer programs and subsidized healthcare initiatives to cushion reform impacts on vulnerable populations.
Current economic projections indicate Nigeria’s GDP growth could reach 4.2% in 2025, driven by increased private sector confidence, improved foreign exchange liquidity, and enhanced fiscal discipline. The government’s removal of fuel subsidies, while initially challenging, has freed up approximately N3.6 trillion annually for infrastructure development and social programs. Foreign direct investment flows have increased by 28% year-on-year, reaching $1.9 billion in the first half of 2025. Key sectors attracting investment include telecommunications, renewable energy, agriculture, and manufacturing, reflecting improved investor confidence in Nigeria’s economic trajectory.
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