President Bola Ahmed Tinubu has defended his administration’s economic reforms, saying that early indicators are showing the policies are beginning to stabilise the economy, notwithstanding the short-term pains for Nigerians.
The President who stated this at the first State House Media Dinner in Abuja, called the reforms tough but necessary decisions aimed at reconstructing the economy, assured that investor confidence is returning, the macro-economic fundamentals are improving, and the government’s policies are in place for sustained growth.
Tinubu who highlighted the challenging economic situation his administration inherited, stressed that policies like the removal of the fuel subsidy, the reforms of the exchange rate system, and fiscal adjustments were in place to bring stability and shore up public finance, and pleaded for patience from Nigerians, assuring them the reforms’ advantages would soon be apparent.
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The President also pledged the continued commitment of his administration to enhance the business environment and improve opportunities for economic growth by attracting investment, emphasizing the desire to construct a resilient and competitive economy.
