BREAKING: What I Discussed With Tinubu – Okonjo-Iweala

BREAKING: What I Discussed With Tinubu – Okonjo-Iweala

On Tuesday, the Director-General of the World Trade Organization (WTO) revealed that she engaged in discussions with Nigerian President Bola Tinubu about potential measures, including assistance from the organization, to mitigate the impact of discontinuing a subsidy on petrol…CONTINUE READING

This subsidy removal has led to an increase in the cost of living in Africa’s largest economy.

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Ngozi Okonjo-Iweala, who is currently on a personal visit to her home country, shared that the talks focused on immediate community programs aimed at generating employment opportunities for young individuals and women who are disproportionately affected.

They also discussed long-term prospects that Nigeria could capitalize on, such as investments in the pharmaceutical industry.

“We are already collaborating in Nigeria, particularly with women who run small and medium-sized businesses, to help them enhance the quality of their products. This applies to areas like agriculture, textiles, and other sectors, enabling them to expand their international sales,” she informed journalists in Abuja, the capital city.

“We are committed to providing the utmost support to Nigerians during this critical period,” she added.

Since taking office on May 29, President Tinubu has launched some of the most significant reforms the country has seen in decades. This includes scrapping the popular but costly petrol subsidy, which amounted to $10 billion in expenses last year, and relaxing foreign exchange regulations.

Tinubu, who faces pressure due to rising prices following his reform agenda, has defended his decision by asserting that Nigeria has already saved over 1 trillion naira ($1.31 billion) in slightly over two months since the reforms were initiated.