World Trade Organization (WTO) Director-General, Dr. Ngozi Okonjo-Iweala, has commended the recent signs of stability in Nigeria’s economy during a courtesy visit to President Bola Ahmed Tinubu at the State House in Abuja.
Speaking after the meeting, Okonjo-Iweala noted that while Nigeria continues to face structural challenges, there are indications that key macroeconomic indicators are beginning to stabilize. She highlighted the importance of sustaining reform efforts, improving the investment climate, and ensuring that economic gains translate into tangible benefits for ordinary citizens.
The WTO chief’s visit comes at a time when Nigeria is navigating a complex economic environment marked by high inflation, currency pressures, and the lingering effects of global supply chain disruptions. Despite these hurdles, recent policy measures by the Tinubu administration — including exchange rate unification, subsidy reforms, and renewed efforts to attract foreign investment — have drawn cautious optimism from international observers.
Okonjo-Iweala, a former Nigerian finance minister, underscored the need for Nigeria to leverage its trade potential and deepen integration into global value chains. She also reaffirmed the WTO’s readiness to support Nigeria in expanding non-oil exports, improving trade facilitation, and strengthening competitiveness in sectors such as agriculture, manufacturing, and services.
President Tinubu, in his remarks, welcomed the WTO’s continued engagement and expressed his administration’s commitment to policies that promote economic growth, job creation, and sustainable development. He emphasized that Nigeria’s long-term stability depends on both macroeconomic reforms and targeted initiatives to empower the private sector.
The meeting also touched on opportunities for Nigeria to play a stronger role in Africa’s intra-continental trade under the African Continental Free Trade Area (AfCFTA), with both leaders agreeing on the importance of collaboration to unlock the country’s trade capacity.
Okonjo-Iweala’s visit signals the WTO’s ongoing interest in Nigeria’s economic trajectory and its willingness to work closely with the government in addressing both domestic and external trade challenges.
