Economy
THE Organisation for Economic Co-operation and Development (OECD) has pledged robust economic and investment data support to strengthen reforms and policy planning efforts in Nigeria.
The organisation made the pledge during a meeting between its senior officials and President Bola Tinubu on the sidelines of the Africa CEO Forum 2026 in Kigali, Rwanda.
This is contained in a statement issued on Friday by the Presidential Spokesperson, Mr Bayo Onanuga.
The meeting focused on partnership opportunities in public finance reforms, trade competitiveness, MSME development, agriculture, pharmaceuticals and solid minerals development across Nigeria.
Discussions also covered investment facilitation, transparency, investor confidence and policy consistency aimed at attracting long-term capital into the Nigerian economy.
Mr Frantisek Ruzicka, OECD Deputy Secretary-General, commended Tinubu’s reform agenda and discussed possible frameworks for supporting Nigeria’s economic transformation priorities.
“We support and understand the pillars of your reforms. I think other leaders should learn from you, especially in improving public finances and working conditions,” Ruzicka said.
He added that the OECD was prepared to support implementation of the administration’s economic reforms and broader development priorities.
The meeting also addressed Africa’s global risk perception and explored strategies for improving investor confidence and sustainable financing opportunities across the continent.
Tinubu emphasised the need to change global perceptions about Africa’s investment climate through stronger accountability, discipline and transparency in project execution and governance.
“Africa’s risk perception must change. Africa must be disciplined and accountable over various projects. We welcome structured cooperation between Nigeria and OECD,” the president said.
Tinubu also explained key reforms undertaken by his administration, including fuel subsidy removal and the unification of the foreign exchange market.
“The removal of the subsidy was necessary. There was a fight back. Easy access is hard to give up. Even the multiple exchange rates had to go,” he said.
The president described the reforms as difficult but necessary decisions aimed at stabilising the economy and repositioning Nigeria for sustainable long-term growth.
He also emphasised the importance of value-chain development in agriculture and pharmaceuticals to reduce dependence on raw material exports.
According to him, regional production systems remain essential for industrialisation, job creation and long-term competitiveness across Africa.
The meeting further discussed opportunities under the African Continental Free Trade Area framework, including regional trade integration and MSME support.
Key areas identified for cooperation included pharmaceuticals, agriculture, solid minerals development, investment promotion and reforms to improve Nigeria’s tax-to-GDP ratio.(NAN)
F.O
Tags: OECD Support