…congratulates FG on bold reforms
Following the feat recorded in several World Bank assisted programmes, the global lender has reaffirmed its desire to expand on such projects in Nigeria. While congratulating the Federal Government on the bold reforms so far undertaken, the bank’s new Country Director, Mr Matthew Verghis, described them as a “development breakpoint” that could reset the country’s trajectory.
Verghis, who declared these during a visit to the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, congratulated Nigeria on the bold reforms undertaken, describing them as a “development breakpoint” that could reset the country’s trajectory.
“Nigeria’s recent decisions represent a critical moment. Such choices are not easy, but they create opportunities for a new path. The World Bank stands ready to continue supporting Nigeria in maintaining these reforms and increasing their impact,” he stated.
He commended the Renewed Hope Ward Development Programme and emphasised the importance of utilising proven approaches. According to him, “the challenge is not just in designing new programmes but in building on what already works. Existing projects such as NGCARES and the Nigeria for Women Project have established effective structures.
We are eager to expand on these models, bring in global experience from India, China, and Kenya, and provide both technical and financial support to strengthen implementation.” He further emphasised the importance of aligning grassroots development with long-term national priorities. “We understand the objectives are jobs, prosperity, and inclusion.
For the poorest, immediate support is needed; for the youth, opportunities for productivity; for the nation, a pathway to sustained growth. These are challenges we want to work with you to address,” he said. Verghis congratulated Nigeria on the bold reforms being undertaken, describing them as a “development breakpoint” that could reset the country’s trajectory.
“Nigeria’s recent decisions represent a critical moment. Such choices are not easy, but they create opportunities for a new path. The World Bank stands ready to continue supporting Nigeria in maintaining these reforms and increasing their impact,” he stated. He praised the Renewed Hope Ward Development Programme and emphasised the importance of utilising proven approaches.
“The challenge is not just in designing new programmes but in building on what already works. Speaking earlier, Bagudu called on the World Bank to support the Renewed Hope Ward Development Programme, which seeks to boost economic activities at the nation’s grassroots. He stated that the initiative would help achieve President Bola Tinubu’s target of a $1 trillion economy by 2030.
“The objectives, among others, are to promote sustainable and inclusive growth at the ward level, which will contribute to national development,” Bagudu told Verghis and his team, explaining, “this will support the $1 trillion GDP target by 2030 and help lift all Nigerians out of poverty.” He stated that the programme, recently approved by the National Economic Council and coordinated by the ministry, was a transformative initiative aimed at driving bottom-up growth.
