News
Tinubu Claims His Economic Reforms Are Yielding Results Despite Challenges
President Bola Tinubu has announced that the economic reforms implemented since he assumed office are beginning to show positive outcomes.
While acknowledging the difficulties these policies have caused for Nigerians, the President emphasized that they were necessary to pull the country back from the brink of economic and social collapse.
Tinubu’s remarks were delivered at the 34th and 35th convocation ceremonies of the Federal University of Technology, Akure (FUTA), where he was represented by the Vice-Chancellor of the University of Ilorin, Professor Wahab Egbewole.
During his address, Tinubu highlighted a significant shift in the nation’s economic trajectory, noting that Nigeria is transitioning from a consumption-driven economy to one focused on production and self-reliance.
The President appealed to Nigerians for patience and understanding as his administration works to stabilize the country.
He reassured citizens that his government remains open to constructive criticism while striving to implement policies that benefit all.
Tinubu also reiterated his commitment to prioritizing the well-being of future generations, explaining that key decisions, such as the removal of the fuel subsidy and the unification of exchange rates, were taken to address deep-rooted economic challenges.
He said, “These reforms were essential to secure the future of our children and reposition the country on the path of sustainable growth.
I am fully aware of the hardships caused by these measures and sincerely wish there were less painful alternatives.
However, they were necessary to rescue our economy and ensure long-term prosperity.”
Tinubu pointed out that while macroeconomic indicators are showing signs of improvement, the impact on individual households—the microeconomy—will take time to fully manifest.
He expressed optimism, stating that gradual progress is being made, and citizens will soon begin to feel tangible benefits.
“Every household will, by the grace of God, experience an improved quality of life and greater hope for the future,” he assured.
The President also addressed the issue of national security, affirming his administration’s dedication to protecting Nigerians in all regions.
“We are working tirelessly to ensure the safety and security of every Nigerian.
Our revamped security architecture is yielding results, and the dark days of insecurity are becoming a thing of the past.
We remain focused on building a nation where everyone can thrive in peace and prosperity,” Tinubu added.
Professor Wahab Egbewole, who represented Tinubu at the event, commended FUTA for its contributions to national development through innovation and technology.
He encouraged the graduating students to apply their skills toward solving societal challenges, noting that the country’s economic transformation depends heavily on youth empowerment and technological advancement.
The removal of the fuel subsidy earlier this year was one of Tinubu’s most controversial decisions.
While it caused an immediate spike in fuel prices and transportation costs, his administration argued that the funds previously spent on subsidies could now be redirected toward critical infrastructure and social programs.
Similarly, the unification of exchange rates aimed to reduce market distortions and attract foreign investment, though it initially led to inflationary pressures.
South Africa President, Cyril Ramaphosa announces Nigerian can now apply for Visa to the country without submitting a passport. This announcement was made on Tuesday during the 11th session of the Nigeria-South Africa Bi-National Commission (BNC) in Cape Town. President Bola Tinubu was also in attendance and witnessed the announcement made.
President Cyril stated that this new process with make travelling easier for Nigerian business and tourists.
The President shared a speech during the announcement “Our efforts to create a favourable environment included simplifying the visa process for Nigerian business people travelling to South Africa. Qualifying Nigerian business people were granted a five-year multiple-entry visa.”
Popular social media personality, VeryDarkBlackMan, has shared an intriguing post online. In a tweet with the hashtag #MindYouNobodyFitCancelMe and mentions of Naira Marley and Zinoleesky, he reflected on an encounter with a group he called “innocent rough men.”
He revealed that he asked the men about their situation, and they responded, “Na God hand e dey,” meaning their fate rests in God’s hands. The phrase has resonated with fans, sparking discussions about faith and resilience.
In the same post, VeryDarkBlackMan boldly declared that no one has the power to cancel him, showcasing his confidence and determination to rise above challenges. The post has drawn reactions across social media, with many admiring his fearless attitude and thought-provoking words.
The House of Representatives has called on President Bola Tinubu to take immediate action by directing the unfreezing of the accounts belonging to the National Social Investment Programmes Agency (NSIPA) within 72 hours.
This decision was reached on Tuesday after a motion was presented by Deputy Speaker Ben Kalu and supported by 32 other lawmakers.
The suspension was a response to widespread allegations of corruption and mismanagement within the sector.
The lawmakers expressed concern that the continued freezing of NSIPA’s accounts is hindering critical programs aimed at reducing poverty and supporting vulnerable Nigerians.
The NSIPA is responsible for managing key social intervention schemes, including N-Power, which provides skills and employment opportunities for Nigerian youth; the Government Enterprise and Empowerment Programme (GEEP), which offers microloans to small business owners and artisans; the Conditional Cash Transfers (CCT), designed to provide direct financial support to poor households; and the National Home-Grown School Feeding Programme (NHGSFP), which delivers meals to schoolchildren across the country to improve enrollment and nutrition.
During the plenary session, Ben Kalu emphasized the importance of restoring NSIPA’s financial operations, stating that doing so aligns with President Tinubu’s broader vision of eradicating poverty in Nigeria.
He stressed that unlocking the agency’s accounts would ensure that these social programs remain efficient, effective, and impactful, particularly during a time when millions of Nigerians are grappling with economic hardships.
The House urged the federal government to promptly release funds to NSIPA to enable the payment of outstanding stipends owed to 395,731 N-Power beneficiaries across the country.
The delayed stipends have caused significant hardship for many young Nigerians who depend on the program to sustain themselves and their families.
In addition to addressing the financial constraints of NSIPA, lawmakers called for a comprehensive review of the agency’s operations to prevent future mismanagement and ensure transparency in the use of public funds.
They noted that resolving these issues swiftly is crucial for maintaining momentum in the administration’s poverty alleviation goals and rebuilding public trust in government-led social intervention programs.
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