Okonjo-Iweala Urges Social Safety Nets for Nigerians

The Director-General of the World Trade Organisation, Ngozi Okonjo-Iweala has advised the Federal Government to introduce social safety nets to cushion the hardship caused by ongoing economic reforms. Speaking after meeting President Bola Tinubu at the Presidential Villa, she commended his efforts to stabilise the economy through subsidy removal and foreign exchange unification but said targeted support for the poor is now critical.

Okonjo-Iweala emphasised that the next priority is economic growth alongside measures to help those struggling with rising costs. She warned that without such interventions, the benefits of reform may bypass the most vulnerable Nigerians.

Her visit also coincided with the launch of the Women’s Exporters’ Fund for the digital economy, jointly managed by the WTO and the International Trade Centre. Nigeria is one of only four countries selected globally for the initiative, which will provide funding and technical support to women entrepreneurs.

Out of 67,000 applicants, 146 Nigerian women secured grants, with 16 receiving intensive 18-month business support and another 100 awarded $5,000 each to start or expand their enterprises.