Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, on Thursday commended President Bola Tinubu’s administration for stabilizing Nigeria’s economy, describing his reforms as steps in the right direction.
Speaking to State House correspondents after a courtesy visit to the President at the Aso Villa, Okonjo-Iweala also urged the government to introduce social safety nets to cushion the impact of the reforms on vulnerable Nigerians.
“We think the President and his team have worked hard to stabilise the economy. You cannot really improve an economy unless it’s stable, so he deserves credit for that. The reforms are headed in the right direction,” she said.
“What is needed next is growth—and social safety nets for those feeling the pinch of the reforms. That’s the next step: how to grow the economy and how to support those affected.”
Okonjo-Iweala’s visit came on the heels of the launch of a landmark Women Exporters’ Fund for the Digital Economy, an initiative jointly managed by the WTO and the International Trade Centre (ITC), aimed at empowering women entrepreneurs in Nigeria.
“We came to brief Mr. President about something joyful—the launch of the Women Exporters’ Fund for the Digital Economy,” she said. “It’s a partnership with the WTO and ITC, with support from the First Lady. The goal is to help Nigerian women weather economic challenges and create jobs.”
Nigeria was one of only four countries selected globally to benefit from the programme. Out of 67,000 Nigerian applicants, 146 women were chosen to receive direct funding.
“Sixteen women under the Booster Track, who already run businesses, will receive technical and business support for 18 months to scale their operations,” she explained. “Another 100 will receive $5,000 each in direct grants to start or strengthen their businesses, along with 12 months of training and mentorship.”
Okonjo-Iweala emphasised the importance of inclusive growth, noting that women’s economic empowerment would play a crucial role in national development. She also highlighted the need to combine economic stability with targeted growth policies and social interventions to create jobs and reduce poverty.
Trade Minister Jumoke Oduwole and representatives of the Nigerian Export Promotion Council were also part of the meeting and are involved in coordinating the initiative’s rollout across the country.
