Nigeria’s Economy on Steady Path to Recovery – Tinubu
July 26, 2024
President Bola Tinubu has assured the nation’s economy is on a gradual, but steady path of recovery, telling citizens that his administration will do more to meet their needs.
This was contained in a statement on Thursday, July 25.
It reads: “In a meeting with traditional rulers led by the Sultan of Sokoto, His Eminence, Muhammad Sa’ad Abubakar III, and the Ooni of Ife, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi, at the State House on Thursday, the President said the plight of citizens remains a deep concern, and will receive more attention.
“Yes, it is true that I asked for this job, and I approached some of you to support me. So, I have no excuse not to do the job with sincerity of purpose and honesty. I have committed myself to it diligently, and I will never look backwards.
“I have accepted the assets and the liabilities of my predecessor. How I will take Nigeria forward should be my concern, and that is my concern.
“I have been extremely busy. The only exercise I have had here is the walk from the residence to this place and then continue with the work.
“Nigeria is hilly, and it is the largest democracy in Africa. No other democracy comes close to us in terms of population on the continent. We cannot blame God for giving us these children, and we have to seek peace and better livelihoods,’’ the President said.
President Tinubu stated that the interventions to bring the government nearer to the people were already yielding results with the activation of the student loan programme, the consumer credit scheme, and the affirmation of fiscal autonomy for local government councils.
He said the Ministry of Finance would continue to ensure that funds went to the grassroots for human and infrastructural development.
“Today, the Bank of Agriculture is empty. We have to reactivate it. If they are not talking about flooding, they are talking of banditry. We have to start all over again. Yes, infrastructural decay is there.
“The Lagos-Calabar coastal road is not being done without studies. It is an economic energizer. From it, we can create infrastructure along the route to develop wind energy and generate power, and we can expand our irrigation network.
“The economic viability of infrastructure has to be studied before we embark on projects. How many dams are there on the corridors of Sokoto- Badagry? From there, we can energize electricity. We can do irrigation and additional farms.
“Even if it is two million hectares of arable land, you can create opportunities for farmers on a small scale. Then you have to find capital for them.
“Nigeria is on the path of recovery. You have heard it from the Minister of Finance, Mr. Wale Edun. We are not afraid of protests. Our concern is the ordinary people, and the damages that will be done. Till today, I cannot forget the brand new 60 and 100 seater buses, down there in Lagos that were burnt down, and we are now complaining of transportation. That is the problem. That is why I must say thank you for talking to the citizens,’’ Tinubu said.
The President also said security was getting more attention and would be enhanced.
“Security is getting better, but we cannot take our eyes off the camera because it takes one accident for things to flare up. We are managing it.
“We have created instruments to support the students so that they get education, consumer credit to expand the economy, to improve the purchasing power of the people in order to rejuvenate the economy within a short period of time. We are still recalibrating our oil usage,’’ the President stated.
Source: DOlusegun