World Trade Organization (WTO) Director-General Dr. Ngozi Okonjo-Iweala has urged the Nigerian government to implement robust social safety nets to mitigate the economic hardships faced by vulnerable citizens following President Bola Tinubu’s reforms.
The call came during her meeting with the President at Aso Villa on Thursday, where she acknowledged the administration’s efforts to stabilize the economy through bold measures like fuel subsidy removal and forex market unification.
“The President and his team have worked hard to stabilize the economy. What’s needed next is growth and social safety nets so people feeling the pinch can weather the hardship,” Okonjo-Iweala told journalists.
The WTO DG also announced a landmark Women’s Exporters’ Fund for Nigeria’s digital economy, developed with First Lady Oluremi Tinubu’s support. The program will directly benefit 146 Nigerian women entrepreneurs, where 16 business owners will receive 18 months of technical/business support, 100 others will get $5,000 seed funding each and all the beneficiaries emerged from 67,000 applicants in a global competition.
“This initiative helps women weather economic storms while creating jobs,” she explained, noting Nigeria was one of only four countries selected worldwide.
The meeting occurred as Okonjo-Iweala prepares to begin her second term as WTO chief on September 1, having made history in 2021 as the organization’s first African and female leader.
While praising the reform direction, her social safety net recommendation addresses growing public discontent over inflation and living costs that have sparked nationwide protests like August’s #EndBadGovernance demonstrations.
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