President Bola Tinubu Highlights Progress from Economic Reforms, Calls for Patience and Unity
President Bola Tinubu has revealed that the economic policies implemented at the start of his administration are beginning to yield positive results, signalling a gradual turnaround for Nigeria’s economy. While acknowledging the initial challenges these reforms posed to citizens, he emphasized their necessity in addressing the nation’s deep-seated economic crises and paving the way for a brighter future.
A Shift from Consumption to Production
Speaking at the 34th and 35th convocation ceremonies of the Federal University of Technology, Akure (FUTA), Tinubu, represented by the Vice-Chancellor of the University of Ilorin, Prof. Wahab Egbewole, outlined the rationale behind his administration’s economic decisions.
He highlighted a strategic shift from a consumption-driven economy to a production-oriented model. This transition aims to foster sustainable growth, create employment opportunities, and reduce the nation’s dependency on imports.
“The need to salvage the future of our children and bring the country back from the brink of collapse necessitated the strategic decisions to remove the fuel subsidy and unify the exchange rates,” Tinubu stated.
Tough Choices for a Better Future
The President acknowledged the hardship resulting from the removal of the fuel subsidy and exchange rate unification but described these measures as crucial to stabilizing the economy.
“I am not unaware of the consequences of the tough decisions on our people. I sincerely wish there could be softer options,” he remarked. Despite the initial discomfort, Tinubu assured Nigerians that the economy is making steady progress, with macroeconomic indicators improving and microeconomic changes beginning to benefit citizens directly.
A Call for Understanding and Unity
Tinubu appealed for the public’s understanding and support, recognizing the challenges posed by the reforms. He reassured citizens of his administration’s commitment to ensuring a better quality of life for all Nigerians, emphasizing that every household will soon experience the positive impact of these reforms.
“The macro-economy of our dear country is improving by the day and beyond expectations. The micro-economy, which directly affects our citizens, is also taking shape gradually with positive results,” Tinubu said.
Commitment to Security and Prosperity
Beyond economic reforms, the President reiterated his administration’s dedication to enhancing security nationwide. Tinubu promised to build a safer and more prosperous Nigeria, stating, “Our security architecture is up to the task, and the ugly narratives of the past are changing for good.”
He also emphasized that his government remains open to constructive criticism, calling on citizens to engage with governance through both admiration and critique.
Hope for a Brighter Tomorrow
In his closing remarks, Tinubu expressed optimism about Nigeria’s future and vowed to continue working tirelessly to secure a prosperous nation for all its citizens.
“By the grace of the Almighty God, every household will experience a better life and have brighter hope for the future,” he concluded.
Conclusion
President Bola Tinubu’s administration navigates a challenging yet transformative phase in Nigeria’s economic history. While the reforms have brought temporary hardships, the long-term vision is to create a self-reliant, production-driven economy. As Nigeria gradually recovers, Tinubu’s leadership is focused on fostering unity, improving security, and ensuring prosperity for all Nigerians.
This journey of economic revival requires patience, collaboration, and unwavering hope for a brighter, more stable future.