Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has clarified her recent remarks on President Bola Tinubu’s economic reforms, after her initial comments sparked debate across the country.
Following a courtesy visit to President Tinubu, Okonjo-Iweala had told journalists that the administration’s reforms “have delivered much-needed stability” and were “in the right direction.” She also added that the president “deserves credit” for steering the economy toward stability.
Given her reputation as a two-time Minister of Finance and former Coordinating Minister of the Economy, her words carried weight — but also generated controversy. A pro-government group, Tinubu Media Force, quickly amplified her remarks, praising them as “objective and fact-based.”
However, as public reactions mounted, Okonjo-Iweala moved to provide clarification. On August 15, she took to her official Twitter account, explaining that her statement had been nuanced and perhaps misinterpreted.
According to her, she told President Tinubu that while the reforms appeared to be heading in the right direction and giving signs of stabilisation, the impact on ordinary Nigerians could not be ignored. She stressed the importance of building stronger social safety nets and finding ways to grow the economy in ways that directly ease the hardships faced by vulnerable citizens.
Her clarification highlighted that many Nigerians were struggling under the weight of the reform policies, and therefore government intervention to cushion these effects was urgent. “Helping people, especially the poor and vulnerable, manage the hardship is very important,” she reiterated.
The controversy largely stemmed from her initial use of the phrase “delivered much-needed stability.” To critics, the claim seemed disconnected from reality, given that many global financial institutions — including the IMF and World Bank — continue to rank Nigeria’s economic indicators as fragile, with inflation, unemployment, and currency volatility still major concerns.
Analysts have since pointed out that Okonjo-Iweala’s words at the State House were likely diplomatic, reflecting optimism about policy direction rather than an outright endorsement of the current state of the economy.
In summary, while Dr. Okonjo-Iweala acknowledged that Tinubu’s reforms may be setting a foundation for stability, she equally emphasised that without targeted interventions to relieve the suffering of millions of Nigerians, any claims of “economic stability” remain incomplete.
More than news- Its Icegate