Jimoh Ibrahim Affirms Tinubu's Economic Reforms Will Not Be Reversed
Nigeria's Ambassador and Permanent Representative to the United Nations, Jimoh Ibrahim, has declared that President Bola Ahmed Tinubu will not reverse the administration's economic reforms, despite the current hardships faced by citizens. He assured that Nigerians will eventually reap the benefits of these policies, emphasizing their necessity for long-term growth and national prosperity.
Global Economic Stability Linked to Geopolitical Tensions
Speaking at a parliamentary session during the ongoing IMF/World Bank Spring Meetings in Washington, DC, Ibrahim highlighted the critical link between global economic stability and geopolitical developments. He specifically pointed to tensions involving Iran and the strategic Strait of Hormuz, warning that any disruption in this region could have far-reaching implications for the world economy.
According to Ibrahim, "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." He noted that over 25 percent of the world's seaborne oil, estimated at more than 20 million barrels per day, and about 20 percent of liquefied natural gas pass through this corridor.
Impact on Major Economies and Domestic Commitments
The envoy warned that major economies such as China, India, Japan, and South Korea would be severely affected by any escalation due to oil price volatility, which could complicate economic planning and worsen development challenges globally. On the domestic front, Ibrahim reaffirmed the Federal Government's commitment to sustaining economic reforms, stressing the need for legislative backing to cushion the impact on citizens.
He urged closer collaboration between the executive and the legislature, stating that legislative action and planning must reflect present realities. "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 said.
Call for International Parliamentary Cooperation
Ibrahim further advised global lawmakers to adopt cooperative frameworks similar to Nigeria's parliamentary model under Senate President Godswill Akpabio, noting that such synergy is crucial in tackling poverty and economic hardship. He emphasized that global peace remains essential for sustainable development and effective economic planning, calling for stronger international cooperation among parliamentarians.
At the close of the session, Ibrahim bade farewell to his colleagues, expressing appreciation for the relationships 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.
