30/07/2026
The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has advised President Bola Tinubu's administration to exercise caution in borrowing and managing Nigeria's growing public debt while ensuring that ongoing economic reforms translate into real benefits for citizens.
Speaking at the 7th Africa Emerging Markets Forum in Abuja, Okonjo-Iweala commended the Central Bank of Nigeria for its monetary and foreign exchange reforms but stressed that broader macroeconomic reforms must be supported by responsible fiscal management and sustainable debt policies.
She urged the government to remain disciplined in borrowing, warning that economic reforms should not only improve statistical indicators but also create jobs and improve the standard of living for millions of Nigerians.
According to her, the country's youthful population urgently needs employment opportunities and economic empowerment, adding that Nigerians must begin to experience the practical benefits of the government's reform agenda.
Latest figures from the Debt Management Office (DMO) show that Nigeria's total public debt rose to N159.28 trillion as of December 2025, an increase of N14.61 trillion from the previous year. The government is also expected to borrow more to finance the 2026 budget deficit.
Okonjo-Iweala noted that countries with stable economic policies and a conducive business environment would be better positioned to attract foreign investment as global companies continue diversifying their supply chains.
She therefore encouraged Nigeria to sustain reforms, strengthen investor confidence and create long-term economic opportunities capable of generating employment and improving the welfare of its citizens.
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