World Bank: Nigeria must sustain current reforms for 15 years to transform economy

Oct. 15, 2024 - TheCable

The World Bank says Nigeria must maintain its current reforms for the next 10 to 15 years to transform its economy. In his welcome address, Gill said the reforms are critical for ensuring long-term growth and enabling Nigeria to compete with other emerging economies in sub-Saharan Africa and globally.

“Nigeria will need to stay the course of current economic reforms for at least the next 10 to 15 years to transform its economy,” Gill said. “If these reforms are sustained, Nigeria will transform its economy and become an engine of growth in sub-Saharan Africa.

Additionally, the Central Bank of Nigeria (CBN) announced the unification of all segments of foreign exchange (FX) markets on June 19...