Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has advised the Federal Government to introduce social safety nets to cushion the impact of President Bola Tinubu’s economic reforms on vulnerable Nigerians.
Speaking to journalists on Thursday after meeting with the president at the Aso Villa, Okonjo-Iweala commended Tinubu’s administration for stabilising the economy through measures such as fuel subsidy removal and unification of foreign exchange rates. She, however, stressed that the next priority should be economic growth and targeted support for citizens struggling with the effects of the reforms.
“We think the president and his team have worked hard to stabilise the economy, and that deserves credit. The reforms are in the right direction, but now we need to focus on growth and ensure people feeling the pinch get support to weather the hardship,” she said.
Tinubu’s economic overhaul, launched in May 2023, has faced backlash over rising food prices and cost of living, sparking protests such as the August 2024 #EndBadGovernance demonstrations.
The meeting came just weeks before Okonjo-Iweala’s second term as WTO chief begins on September 1, 2025. Accompanied by Trade Minister Jumoke Oduwole, she also briefed the president on the Women’s Exporters’ Fund for the digital economy — a joint WTO and International Trade Centre initiative aimed at supporting Nigerian women entrepreneurs.
According to her, Nigeria was one of only four countries selected globally, with 67,000 women applying and 146 winners chosen. Of these, 16 will receive intensive 18-month business support, while another 100 will each receive $5,000 to start or grow their ventures.
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