Okonjo-Iweala Lauds Tinubu’s Economic Reforms, Warns Digital Divide Threatens Nigeria’s Share In $4.25tn Trade

August 14, (THEWILL) — Former Finance Minister and current Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has commended the economic reforms introduced by President Bola Tinubu, describing them as steps in the right direction.

Speaking to State House Correspondents on Thursday after meeting the President at the Presidential Villa, Abuja, Okonjo-Iweala said Tinubu and his team had worked hard to stabilise the economy, adding that such stability was a necessary foundation for growth.

“We think that the President and his team have worked hard to stabilise the economy, and you cannot improve an economy unless it’s stable. He has to be given credit for that stability,” she said.

While noting the progress so far, the WTO chief stressed the need to strengthen the economy further and expand social safety nets to cushion the hardship brought by ongoing reforms.

“What is needed next is growth. We now need to grow the economy, and we need to put in social safety nets so that people who are feeling the pinch of the reforms can also have some support to weather the hardship.

“These are issues we discussed with Mr. President—how to build a safety net for Nigerians and how to create more jobs and put more money in people’s pockets,” she stated.

Earlier in the day, Okonjo-Iweala participated in the launch of a Women Exporters Fund for the digital economy, an initiative facilitated by the First Lady, Senator Oluremi Tinubu.

She, however, raised concerns about Nigeria’s digital readiness, warning that the country risks missing out on its share of the $4.25 trillion global digital trade market due to a widening connectivity gap.

“Digital trade is the fastest-growing segment of global commerce, yet Africa’s share is less than 1%.

“With only 45% of Nigerians connected to the internet, well below the global average of 67%, we must act swiftly to ensure reliable, affordable access and steady electricity to compete,” she cautioned.

Okonjo-Iweala urged the government to prioritise bridging the digital divide, stressing that improved connectivity would unlock economic opportunities, especially for women entrepreneurs seeking to participate in global trade.

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