The World Bank Vice President and Chief Economist, Mr. Indermit Gill said yesterday that the Federal Government should sustain ongoing reforms despite the hardship on Nigerians.
He spoke at the opening session of the #NES30# in Abuja, yesterday.
Mr. Gill admitted that the reforms of the present administration had brought hardship to Nigerians, especially the vulnerable poor but that it was the only way out for the economy.
To return the nation’s economy to the path of sustainable growth, Gill said Nigeria must sustain the reforms that if allowed would transform the Nigerian economy and that of the entire Sub-Sahara Africa.
His words, “I don’t know if you agree with me or you don’t agree with me. If he does that it will transform the economy of Sub-Sahara Africa.
It is very difficult to do these things but the rewards are massive. This is the lesson from the last 40 years as well as countries such as Norway, Poland and Korea.
“I am going to say something unpopular perhaps, Nigeria’s reforms from 2003 to 2007 were exactly what you needed but they were not sustained. Today’s fiscal and monetary reforms are hurting everyone especially ordinary Nigerians who are struggling with high prices of food and transport.
“The government must do everything in its power to protect the most vulnerable citizens against hardships because their lives and the lives 110 million children depend on it.
Vanguard
