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Tinubu Says His Tough Economic Reforms Are Now Helping Nigeria’s Economy Grow
President Bola Tinubu has claimed that his government’s economic reforms are beginning to bear fruit. Speaking at the APC National Summit held at the State House banquet hall in Abuja on Thursday, Tinubu defended his administration’s decisions and insisted that the ruling party has not failed Nigerians. “Two years ago, we set out on a journey powered by hope and a strong belief in this country. We made a promise to tackle Nigeria’s problems directly and rebuild the trust of our people,” he said.
The president expressed confidence that the economic policies introduced since May 2023 are taking effect. He noted that the removal of fuel subsidies was a tough but necessary decision meant to steer the country toward a better future. “We took the bold step to end the subsidy, and we did it for the good of the country. Good things don’t come easy,” Tinubu added.
Since taking office, his administration has introduced a wave of economic reforms, including floating the naira and slashing fuel subsidies—moves which both the government and international bodies say were essential to fix Nigeria’s struggling economy.
However, these changes have been deeply felt by everyday Nigerians, many of whom are battling an intense cost-of-living crisis. With inflation soaring and economic growth sluggish, the World Bank estimates that nearly half of Nigeria’s population lived in poverty in 2024. Similarly, the International Monetary Fund (IMF) recently pointed out that while the reforms may be important in the long run, they are yet to make a real difference in the lives of ordinary citizens.
The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has spoken on Nigeria’s economy, stating that the country lacks a good maintenance culture.
She said “The fact is that endowments alone do not add value. Budgetary allocations alone do not lead to new roads or good maintenance.”
“We lack a maintenance culture in the country. I have to say that. I’m Nigerian, but we need that. We need better ports and digital infrastructure, and lower trade costs. Execution is what matters, and successful execution requires focus. It requires prioritisation.”
Politician and former presidential candidate Peter Obi speaks on President Bola Tinubu’s comments regarding the rising hunger and worsening economic situation in Nigeria.
It can be noted that the President recently stated that hunger has always existed in Nigeria.
Peter Obi responded “I watched with deep concern the statement made by President Bola Tinubu to the Catholic Bishops, that there has always been hunger in Nigeria, even before he was born.”
“While it is true that hunger has been a part of human life and has existed in our country for decades, such a statement appears insensitive to the plight of the millions of Nigerians who face worsening economic hardship today.”
Reports have been shared stating that the Nigerian Army has launched a new programme designed to train and improve the skills of engineers in tackling threats posed by Improvised Explosive Devices (IEDs).
The seminar is being organised by the 41 Engineer Brigade of the 1 Division Nigerian Army.
It was stated “Improvised Explosive Devices have become one of the greatest security threats confronting the Nigerian Army in ongoing counter-insurgency operations. Their widespread use has complicated military operations and humanitarian activities in conflict-affected areas.”
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