Economic recovery in Nigeria.
The World Bank says sustaining reform momentum in Nigeria is critical to ensuring robust economic recovery beyond 2021.
Shubham Chaudhuri, World Bank Country Director for Nigeria said this on Tuesday in Abuja at the presentation of the Nigeria Development Update, a bi-annual publication of the bank on the economic outlook of Nigeria.
The June edition of the publication is themed: “Resilience Through Reforms”.
Chaudhuri said though Nigeria was at a critical juncture, it had so much potential which had not been realised.
He added that with the COVID-19 crisis and the pressures on the economy, the pressures on society had been heightened.
He also said that Nigeria faced interlinked challenges in relation to inflation, limited job opportunities and insecurity.
He said “While the government has made efforts to reduce the effect of these by advancing long-delayed policy reforms, it is clear that these reforms will have to be sustained and deepened for Nigeria to realise its development potential.”
