Okonjo-Iweala: Tinubu Deserves Award for Stabilizing Nigeria’s Economy — Reforms are in the Right Direction

RYNI News | Omotayo Stephen . O
14 August 2025

Abuja — World Trade Organisation (WTO) Director-General Dr. Ngozi Okonjo-Iweala has given President Bola Tinubu’s economic reforms an emphatic nod of approval, hailing his administration’s push to stabilise Nigeria’s volatile economy as a necessary first step toward sustainable growth.

Speaking to journalists after a high-profile meeting at the Presidential Villa on Thursday, Okonjo-Iweala — a former Nigerian finance minister and globally respected economist — declared that “you cannot really improve an economy unless it’s stable,” adding that Tinubu and his team “have worked hard to stabilise the economy, and he deserves credit for that.”

Her visit, however, was not purely an economic appraisal. She came to share what she described as “joyful news” — the launch of a transformative initiative aimed at empowering Nigerian women in the fast-growing digital export economy.

The Women Exporters Fund for the Digital Economy, jointly managed by the WTO and the International Trade Centre (ITC) in Geneva, is designed to help women entrepreneurs weather the economic storm while building thriving, job-creating businesses.

Nigeria emerged as one of only four countries worldwide selected for the programme after a competitive global process. Out of a staggering 67,000 Nigerian applicants, 146 women secured coveted places in the scheme. Among them, 16 high-achieving entrepreneurs have been placed in the elite “booster track” — a category for those already running viable businesses but ready to scale up. These women will receive 18 months of tailored technical guidance, business coaching, and access to new markets.

A further 100 women will each be granted $5,000 in direct funding, paired with 12 months of mentorship and support to launch, expand, or strengthen their enterprises. Okonjo-Iweala emphasised that such targeted investment would not only lift individual households but also inject vitality into Nigeria’s broader economic landscape.

“This is about putting money not only in the pockets of households but in the nation’s pocket,” she explained, noting that women-led businesses have a proven multiplier effect on communities and national growth.

She lauded the First Lady’s active support, along with the Ministry of Trade and Investment and the Nigerian Export Promotion Council, for championing the initiative locally.

Turning to broader economic strategy, Okonjo-Iweala cautioned that stability must be matched with measures to ensure ordinary Nigerians are not left behind. “What is needed next is growth,” she said pointedly. “We need to build social safety nets so that those feeling the pinch of reforms can weather the hardship. That’s how we create jobs and put more money in people’s pockets.”

Her remarks underscore a delicate truth: reforms, however necessary, risk eroding public patience without tangible improvements in livelihoods. Okonjo-Iweala’s message to the President was clear — pair stability with inclusive growth, and Nigeria’s economic narrative could shift decisively.

For now, her public endorsement is a boost to Tinubu’s reform credentials, signalling that the global economic community is not only watching Nigeria’s path forward — it is cautiously optimistic.

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