Naijahood
President Bola Tinubu has affirmed that the economic policies implemented by his administration are now yielding the desired results. Acknowledging that the measures, including the removal of fuel subsidies and the unification of exchange rates, were tough on the people, he emphasized that they were necessary to rescue Nigeria from the crises it faced.
Speaking through the Vice-Chancellor of the University of Ilorin, Prof. Wahab Egbewole, during the 34th and 35th convocation ceremonies of the Federal University of Technology, Akure (FUTA), Tinubu stated that Nigeria is transitioning from a consumption-based economy to a production-driven one.
The President called for understanding and support from the citizens, noting that while his administration welcomes both criticisms and praise, the tough decisions were essential for the nation’s long-term prosperity. He said, “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 also unify the exchange rates. I am not unaware of the consequences of the tough decisions on our people. I sincerely wish there could be softer options.”
Tinubu also assured Nigerians that the country’s macroeconomy is improving beyond expectations and that the microeconomy, which directly impacts citizens, is gradually showing positive results. He expressed confidence that, with God’s grace, every household would experience an improved quality of life and brighter future prospects.
The President further reassured the public about the government’s commitment to ensuring security and transforming the country into a land of prosperity for all.
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