the World Bank’s recommendation on Economic reforms as the World Bank Vice President and Chief Economist Indermit Gill emphasized that President Bola Tinubu’s administration should persist with its economic reforms despite Nigerians’ current hardships.

Gills, speaking at the Nigerian Economic Summit  in Abuja maintained that these reforms are crucial for long-term growth, especially for a resilient economy in Sub-Saharan Africa.

Gill highlighted the Central Bank of Nigeria (CBN) ‘s unification of exchange rates as a commendable move, stating, “The exchange rate Nigeria now has is the most effective in 20 years.”

He noted that this decision could strengthen Nigeria’s foreign reserves and provide a buffer against oil price fluctuations, adding, “Governor Cardoso is implementing necessary steps, and it’s important he receives continued support.”

Despite acknowledging the difficulties of these reforms, particularly for Nigeria’s most vulnerable citizens, Gill stressed that their successful implementation could dramatically reshape the economy.