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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.
The Federal Government has announced an extension of the NYSC programme. It can be noted that the NYSC camp orientation is usually for three weeks before the youths go out to gain experience, employment, and serve the country for one year.
However, the FG announced that the passing-out parade from camp will be cancelled, and corps members will now spend six weeks in camp instead of three weeks.
“The first two weeks speak to laying a foundation on civic responsibility. The next two weeks will look at career mapping, basic accounting literacy skills, business planning and access to finance. The final two weeks, we intend to have focused corps-stream-specific training aligned with the corps member’s designated stream based on his choice, academic background and skills profile.”
With the rainy season in Nigeria, many are wondering if the increase in flooding has now become the new normal. Lots of videos, clips, and complaints have literally flooded online, showing how badly roads, homes, and other places have been affected.
We were used to hearing about the rise of water on the Island since it is literally surrounded by water, but now floods are being spotted on the Mainland as well.
We may not know exactly why this is happening, but one thing is certain—we urgently need a lasting solution.
The federal government reacted to claims stating that the new tax rules will be imposed on telecommunications and petroleum products for Nigerians.
The FG released a statement to explain the process and stated that there is no intention to place taxes on telecom and petroleum products and services.
“Those recommendations do not amount to government policy and are not binding on Nigeria. Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities.”
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