President Bola Tinubu has reaffirmed his administration’s commitment to restoring confidence in Nigeria’s economy. Speaking at the 17th Annual Chartered Institute of Bankers of Nigeria (CIBN) Banking and Finance Conference, Tinubu highlighted measures aimed at reducing inflation, stabilizing the foreign exchange market, and improving fiscal management.
Tinubu acknowledged the challenges facing the nation, including high inflation, unemployment, infrastructure deficits, and global economic shifts. However, he emphasized that these challenges also present opportunities for growth and development.
The President outlined bold steps taken by his administration to reform the macroeconomic environment, including the removal of fuel subsidies and adjustment of the monetary policy rate. These measures, though painful in the short term, aim to free up budgetary resources for critical investments in infrastructure and social services.
Tinubu also emphasized his administration’s commitment to strengthening infrastructure development, investing in roads, railways, and energy projects through public-private partnerships. This, he believes, will reduce transportation costs and improve market access.
The President’s speech comes as Nigeria grapples with economic challenges, and his administration’s efforts aim to address these issues and promote economic growth and development.
