Okonjo-Iweala: Nigeria Must Shift From Stabilisation to Growth
WTO Director-General, Dr. Ngozi Okonjo-Iweala, says Nigeria’s long-sought economic stabilisation is finally beginning to take hold, but cautioned that the government must now prioritise policies that deliver tangible growth for citizens.
With this foundation in place, Okonjo-Iweala said the next urgent step is to implement growth-focused reforms that directly benefit ordinary Nigerians.
“The government now needs to look at growth, because the only way people can feel that the economy is working for them is when it grows and not just grows, but spreads to those who don’t have,” she said.
“Those at the bottom of the ladder, those who are working, must feel the impact. I think we’ll get there if the right policies are put in place.”
She recalled advising government officials to immediately activate policies that stimulate growth across key sectors of the economy.
Okonjo-Iweala emphasised that small and medium-sized enterprises (SMEs) should be a focal point, describing Nigerians as “remarkably entrepreneurial” and often not reliant on government handouts.
She called for stronger support to the Bank of Industry to scale financing for small businesses, which she described as the engine for job creation and inclusive development.
Beyond SMEs, Okonjo-Iweala urged the government to unlock growth in agriculture, leveraging Nigeria’s fertile land to reduce dependence on food imports.
She also highlighted untapped potential in the creative sector, expressing satisfaction with its rising contribution to the economy.
According to her, Nigeria must aggressively diversify away from oil and gas, expand opportunities in rural communities, and invest in women and youth-led startups to drive inclusive growth.
