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Don’t deviate from your economic reforms for 10 to 15 years to transform economy — World Bank tells Nigeria
By Mario Deepromoter
The World Bank has said that Nigeria needs to continue its current economic reforms for the next 10 to 15 years to position itself as a significant economic force, both in sub-Saharan Africa and globally.
The bank asserts that these reforms are essential for achieving sustainable growth and development, enabling Nigeria to compete with other emerging economies around the world.
The Senior Vice President of the World Bank Group, Indermit Gill, gave this advice during the ongoing 30th Nigerian Economic Summit in Abuja on Monday, October 14.
Gill acknowledged that the current administration’s reforms have caused hardship for many Nigerians, particularly the vulnerable poor, but emphasized that these measures are essential for the nation’s economic recovery.
According to him, “Nigeria will need to stay the course of current economic reforms for at least the next 10 to 15 years to transform its economy.
If these reforms are sustained, Nigeria will transform its economy and become an engine of growth in sub-Saharan Africa.
Implementing such changes is challenging, but the rewards are substantial, as demonstrated by lessons from the last 40 years and by countries like Norway, Poland, and Korea.
While Nigeria’s reforms from 2003 to 2007 were necessary, they were not sustained. Today’s fiscal and monetary reforms are affecting everyone, especially ordinary Nigerians grappling with rising food and transportation costs.
The government must do everything possible to protect the most vulnerable citizens from these hardships, as their lives and those of 110 million children depend on it.”
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I never said churches should be dismantled -Peter Obi
By Gloria Ikibah
The Labour Party leader, Peter Obi, has responded to what he described as a “mischievous distortion” of his recent statements on religion and productivity.
The clarification follows reactions to Obi’s recent interview, which some headlines falsely suggested called for the “dismantling of churches” in Nigeria.
According to a statement by the Spokesperson Peter Obi Media Reach (POMR), Ibrahim Umar, this misrepresentation “greatly overturned and grossly distorted” the true message Obi intended to convey.
Umar emphasized that Obi, known for his strong faith and respect for all religions, sought to address how Nigerians could make religion more effective in their daily lives. In the interview, Obi highlighted the biblical teaching that “faith without works is unhelpful,” referencing Apostle James’ words in the Bible (James 2:14 and James 2:24). His point, they said, was to encourage Nigerians to balance worship with productive work.
“When Obi said that he would turn night vigil into a production night, he was only stressing the importance of worshipping God through work,” the statement read.
Obi’s office explained that he meant night vigils should not replace productive effort, aligning with his message of turning Nigeria “from consumption to production.”
POMR cited more biblical references to support Obi’s view on the need for work, including Proverbs 14:23, which states, “All hard work brings a profit, but mere talk leads only to poverty.” The statement added that in the Bible, Jesus chose his disciples from among working individuals, such as fishermen and tax collectors, rather than those who were idle.
Obi’s media team stated that his comment that “politics and church… have to be dismantled” was a call for change in worship practices that encourage a productive mindset while maintaining faith. His other statement, “We are going to turn night vigil into night shift so that people can be productive,” was intended to inspire Nigerians to see work as a form of worship.
Umar therefore urged the public to disregard the “mischievous” headlines and understand Obi’s message as one that seeks to build a productive society.
“OBI’S message should resonate properly away from the intention of mischief makers,” Umar stated, reinforcing Obi’s campaign promise to drive Nigeria towards a more production-focused future.
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