Indermit Gill, the World Bank’s Senior Vice President, emphasized the necessity for Nigeria to maintain economic reforms for a minimum of 10 to 15 years to achieve sustainable growth. Speaking at the 30th Nigerian Economic Summit in Abuja, Gill highlighted that consistent political will and effective policy implementation are crucial for overcoming Nigeria’s structural economic challenges
Gill pointed out that recent reforms, such as the removal of petrol subsidies and unifying exchange rates, have sparked inflation and increased living costs for many Nigerians. However, he warned that reversing these changes would have dire consequences for the economy’s future.
He drew parallels to Nigeria’s earlier successful reforms between 2003 and 2007, which involved prudent management of oil revenues and attracted significant foreign direct investment
