The Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, has urged the Nigerian Government to introduce robust social safety nets to support poor citizens struggling under the impact of ongoing economic reforms.
Speaking to journalists on Thursday after a meeting with President Bola Tinubu at the Presidential Villa, Abuja, the former Nigerian finance minister commended the administration for implementing key measures, including the removal of petrol subsidy and unification of foreign exchange windows, which she described as necessary for stabilising the economy.
“We think that the President and his team have worked hard to stabilise the economy. You cannot really improve an economy unless it is stable. So, he has to be given the credit for the stability of the economy. The reforms have been in the right direction,” Okonjo-Iweala said.
She stressed that while stability has been achieved, the next priority should be driving economic growth and ensuring protection for vulnerable citizens.
“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. That’s the next step,” she added.
