Nigeria’s Ambassador and Permanent Representative to the United Nations, Jimoh Ibrahim, has said the economic reforms introduced by Bola Ahmed Tinubu will not be reversed despite current economic challenges. Ibrahim made the remarks during a parliamentary session held on the sidelines of the IMF/World Bank Spring Meetings in Washington, DC,……
Nigeria’s Ambassador and Permanent Representative to the United Nations, Jimoh Ibrahim, has said the economic reforms introduced by Bola Ahmed Tinubu will not be reversed despite current economic challenges.
Ibrahim made the remarks during a parliamentary session held on the sidelines of the IMF/World Bank Spring Meetings in Washington, DC, where he assured that Nigerians would soon begin to reap the benefits of the reforms.
He described the policies as necessary for long-term growth and national prosperity, noting that while they may bring short-term hardship, they are critical to repositioning the economy.
The envoy also linked global economic stability to geopolitical developments, particularly tensions involving Iran and the strategic Strait of Hormuz.
According to him, disruptions in the corridor could have severe implications for global trade and energy supply.
Ibrahim noted that over a quarter of the world’s seaborne oil and a significant share of liquefied natural gas pass through the route, warning that any escalation could trigger oil price volatility and disrupt economic planning, especially in major economies such as China, India, Japan and South Korea.
On the domestic front, he stressed the importance of legislative backing in mitigating the impact of reforms, calling for stronger collaboration between the executive and legislature to address economic challenges.
He pointed to Nigeria’s parliamentary model under Godswill Akpabio as an example of effective synergy, urging global lawmakers to adopt similar cooperative approaches to tackle poverty and economic hardship.
Ibrahim also emphasised the need for stronger international collaboration among parliamentarians, stating that global peace remains essential for sustainable development and effective economic planning.
He disclosed that he would be stepping down from parliamentary duties following his appointment as Nigeria’s ambassador to the United Nations, marking a transition into diplomatic service.
