Jimoh Ibrahim Advocates for Economic Reforms Under Tinubu

During a parliamentary session on the sidelines of the IMF and World Bank spring meeting in Washington DC, Jimoh Ibrahim stated that there will be no reversal of economic reforms under President Bola Tinubu. He highlighted that while these reforms may cause short-term pain, they are essential for long-term growth and prosperity in Nigeria.

Ibrahim noted that significant economic development cannot occur without addressing rising tensions, particularly concerning Iran and the strategic Strait of Hormuz, which is crucial for global oil and gas supply. He warned that disruptions in this region could have far-reaching consequences for the global economy, given that 25% of the world's seaborne oil and 20% of liquefied natural gas pass through this corridor.

Ibrahim reaffirmed the federal government's commitment to sustaining reforms and emphasized the importance of legislative backing to cushion the effects on citizens. He urged for stronger collaboration between the legislature and executive to tackle economic challenges.