World Bank, IMF recognise Tinubu’s economic reforms – $1tn economy target achievable – Yilwatda

The National Chairman of the All Progressives Congress (APC), Prof. Nentawe Goshwe Yilwatda, has said Nigeria’s ambition of building a $1 trillion economy is within reach, citing the economic reforms introduced by President Bola Tinubu and their recognition by the World Bank and the International Monetary Fund (IMF). Yilwatda said the reforms were laying the foundation for a stronger, more productive and prosperous economy, adding that abandoning them would reverse the progress made in addressing the country’s longstanding structural challenges.

He stated this in Uyo, Akwa Ibom State, where President Tinubu and his entourage attended a rally at the Senator Godswill Akpabio International Stadium. In a statement issued on Friday by his Special Adviser on Media and Information Strategy, Abimbola Tooki, the APC chairman said Tinubu’s decision to confront longstanding economic challenges demonstrated the kind of leadership required to reposition the country for sustainable growth.

Although he acknowledged that the reforms had imposed difficult adjustments on Nigerians, Yilwatda argued that sustaining them was necessary to achieve long-term economic stability. He described the $1 trillion economy target as more than a political aspiration, saying it was a national development objective supported by deliberate policy choices and ongoing economic restructuring.

Yilwatda identified investments in infrastructure, transportation, education, maritime development and financial inclusion as key pillars of the administration’s economic agenda. He specifically highlighted the Lagos-Calabar Coastal Highway, saying the project would improve connectivity, stimulate commercial activities and create economic opportunities for Akwa Ibom and other coastal communities.

The APC chairman also said the administration’s focus on developing the maritime sector would enhance the competitiveness of coastal states and increase their contribution to national development. On education and social investment, he commended the student loan scheme for expanding access to higher education, while noting that interventions targeting women and small businesses were creating opportunities for wider economic participation.

He further said the tax reforms were designed to reduce the burden on low-income earners and small businesses, allowing them to retain more of their earnings and operate in a more favourable business environment. Yilwatda also listed improved industrial harmony in educational institutions and efforts to settle outstanding obligations to workers, pensioners and retirees of formerly privatised public enterprises as achievements of the administration.

Urging Nigerians to support the reform process, he said: “Never again should Nigeria return to Egypt. We cannot afford to abandon the difficult but necessary work of rebuilding our economy and repositioning our country for sustainable growth.” He maintained that the administration’s policies and investments were positioning Nigeria for long-term prosperity and greater economic competitiveness.