Nigeria’s Ambassador to the United Nations, Jimoh Ibrahim, has affirmed that President Bola Ahmed Tinubu’s administration will remain committed to its economic reforms despite current hardships, insisting that the long-term benefits will outweigh short-term difficulties.
Speaking at a parliamentary session held on the sidelines of the ongoing IMF/World Bank Spring Meetings in Washington, DC, Ibrahim emphasised that the reforms are essential for sustainable growth and national prosperity. He acknowledged the immediate economic pain being experienced by Nigerians but stressed that these measures are indispensable for the country’s development.
The envoy also addressed global economic concerns, highlighting the critical importance of maintaining stability in the Strait of Hormuz. He warned that no country can achieve significant economic development this year or beyond without securing peace amid ongoing tensions involving Iran. According to Ibrahim, over 25 per cent of the world’s seaborne oil—estimated at more than 20 million barrels per day—and about 20 per cent of liquefied natural gas pass through the strategic corridor. He noted that major economies such as China, India, Japan, and South Korea would face severe impacts from any escalation due to oil price volatility, complicating economic planning and deepening development challenges worldwide.
On Nigeria’s domestic front, Ibrahim reaffirmed the Federal Government’s determination to sustain its reform agenda, stressing that legislative support is crucial in cushioning the effects on citizens. He called for stronger collaboration between the legislature and the executive to address economic challenges effectively. The envoy urged lawmakers globally to adopt cooperative frameworks similar to Nigeria’s parliamentary model under Senate President Godswill Akpabio, noting that such synergy is vital in reducing poverty and economic hardship.
“President Bola Tinubu introduced reforms that will make Nigeria great. These policies may come with short-term pains, but they are indispensable for growth and economic development,” Ibrahim stated. He added that legislative action and planning must reflect current realities, with both law and strategy grounded in accurate situational diagnosis.
Ibrahim further called for enhanced international cooperation among parliamentarians, stressing that global peace remains a prerequisite for sustainable development and effective economic planning. At the close of the session, he bid farewell to his parliamentary colleagues, expressing appreciation for the relationships and networks built over the years. He disclosed that he would be stepping down from parliamentary duties following his appointment by President Tinubu as Nigeria’s Ambassador Extraordinary and Plenipotentiary to the United Nations, marking a transition into a new phase of global diplomatic service.
