Nigeria’s Ambassador and Permanent Representative to the United Nations (UN), Jimoh Ibrahim, has declared that President Bola Tinubu will not reverse the administration’s economic reforms despite mounting public hardship, insisting that the policies were necessary for long-term national growth.
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Ibrahim made the remarks during a parliamentary session on the sidelines of the ongoing IMF/World Bank Spring Meetings in Washington, DC.
He acknowledged the immediate strain on citizens but maintained that the reforms were critical to repositioning the economy.
“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,” he said.
The envoy also linked global economic stability to the inevitable easing of geopolitical tensions in the Middle East, particularly around Strait of Hormuz.
“No country can achieve significant economic development this year or thereafter until we jointly secure peace in the ongoing tensions involving Iran, especially as it concerns international passage through the Strait of Hormuz,” Ibrahim stated.
He warned that any disruption in the maritime corridor could have far-reaching global consequences, noting that more than 25 per cent of the world’s seaborne oil, over 20 million barrels daily and about 20 per cent of liquefied natural gas pass through the route.
According to him, major economies such as China, India, Japan, and South Korea would be significantly affected by any escalation, particularly through oil price volatility and disrupted economic planning.
On Nigeria’s domestic outlook, Amb. Ibrahim stressed the need for stronger collaboration between the executive and legislature to mitigate the impact of reforms on citizens. He said legislative backing would be essential in cushioning economic pressures.
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“The law must reflect the situation, while action and strategy must come from proper situational diagnosis. Parliament is not an exception to modern global realities,” he said.
He also pointed to Nigeria’s parliamentary coordination under Senate President Godswill Akpabio as a model for global lawmakers, advocating for cooperative frameworks to address poverty and economic hardship.
Ibrahim further called for enhanced international cooperation among legislators, stressing that global peace remains fundamental to sustainable development and effective economic planning.
At the close of the session, the Ambassador announced his withdrawal from Nigerian parliamentary duties following his appointment by President Tinubu as Nigeria’s Ambassador Extraordinary and Plenipotentiary to the United Nations.
He expressed appreciation to colleagues at the forum, noting that his transition marked a new phase of diplomatic career.
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