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‘Economy Is Stabilising’: Tinubu Defends Reforms, Says They Are Yielding Results
According to him, while the reforms were “difficult steps", the results so far show that things have improved, with “investor confidence” in the country returning.
A photo combo of President Bola Tinubu and a Nigerian Market
President Bola Tinubu has again defended reforms rolled out by his administration and insisted that they are yielding results.
The former Lagos State governor spoke on Thursday during the maiden State House Media Dinner in Abuja.
According to him, while the reforms were “difficult steps”, the results so far show that things have improved, with “investor confidence” in the country returning.
“The difficult but necessary reforms undertaken by this administration are yielding results. Our economy is stabilising. Public revenues have strengthened significantly,” Tinubu told the gathering.
“State governments are receiving substantially higher allocations to support development. Investor confidence is returning.
“Our foreign reserves have improved considerably. The oil and gas sector is attracting renewed investment. The stock market has witnessed remarkable growth. Key economic indicators are moving in the right direction. Through tax reforms, fiscal reforms, infrastructure investments, and improvements in the business environment, we are laying the foundations for a more competitive, productive, and prosperous economy.”
The president admitted that the “journey is not yet complete” but said, “the direction is clear, and the foundations for long-term growth are being firmly established.”
He also praised the efforts of security agencies, recalling some successes recorded in the battle against insecurity.
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Tinubu said his administration has “maintained a determined, multi-dimensional approach”.
“Military operations have intensified across several theatres. Intelligence gathering has improved. Inter-agency collaboration has strengthened. Regional and international cooperation has expanded,” the president said.
“As a result, thousands of criminal elements and terrorists have been neutralised. Numerous hostages have been rescued. Communities previously under threat have been reclaimed. Security agencies continue to demonstrate courage and professionalism in confronting terrorism, banditry, kidnapping, oil theft, and other forms of criminality.”
The president said his administration “remains resolute in our commitment to securing every part of our country and ensuring that every Nigerian can live, work, and prosper in peace.”
He also praised the media for their role in the advancement of the country’s democracy but asked journalists to “report and inform with care and accuracy to facts and in a manner that ensures the society is not set on fire”.
Partners In Nation-Building
President Tinubu described the media as partners in nation-building.
“We are adversaries only in the democratic sense, as the media constantly distrust those in power. In nation-building, we are partners,” he noted.
“Government exists to serve the people through leadership, policy, and public service. The media exists to serve society by watching those entrusted with power, asking difficult questions, and holding government accountable. The Nigerian people have deliberately assigned us these roles.”
He promised to ensure that the media enjoy the freedom to carry out their jobs.
“My administration remains fully committed to the constitutional guarantees of freedom of expression and press freedom as enshrined in Sections 22 and 39 of the Constitution of the Federal Republic of Nigeria,” he said.
