- Says We Have Headwinds, No Doubt, But We Are Not Going Back
- Vows To Do More On Security, Invest More In Education
- Shettima Optimistic Nigeria Will Overcome Challenges With Collective Effort
Amid the biting economic hardship experienced by Nigerians occasioned by the floating of the naira and the removal of petroleum subsidy, President Bola Tinubu on Thursday declared that there is no going back on the reforms embarked upon by his administration.
The Matrix reports that shortly after assuming office last year Tinubu ended the fuel subsidy regime and currency controls, leading to a tripling of petrol prices and a spike in living costs as the naira has slid drastically against the dollar.
Tinubu has repeatedly called for patience to allow his reforms to take effect, saying they will help attract foreign investment, but the measures have hit Nigerians hard.
To protest these biting times, organized labour a few days ago declared that there is no going back on the planned protest slated for February 26-27, 2024.
Similarly, protests have broken out in several states of the country against the hardship experienced.
Unfazed by these developments, President Tinubu defended his administration’s reforms, saying there is no going back.
Tinubu made the vow at the State House in Abuja while receiving a delegation from the Corporate Council on Africa (CCA) led by Florizelle Liser, CCA’s President and Chief Executive Officer.
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“I am happy that the Council is interested in various segments of Nigeria’s economy. We are right in the middle of a challenging stage of our reforms. We have headwinds, no doubt, but we are not going back,”
“We are challenged, and we believe we will overcome the challenges. I have a can-do attitude that must be translated into a must-do attitude. We have a good team, and we must remain focused to get the goal accomplished,” his spokesman Ajuri Ngelale quoted him as saying.
President Tinubu expressed satisfaction with the Corporate Council’s dedication to fostering business connections between the United States of America and Africa, drawing on his extensive experience in corporate governance and interactions with CCA during his tenure as the two-term governor of Lagos State.
Tinubu reaffirmed his commitment to creating an enabling environment for business to thrive, emphasizing that his administration’s focus on investing in key sectors, such as agriculture, solid minerals, energy, health, physical infrastructure, trade promotion, financial services, digital enterprise, and the creative economy is underpinned by the need to ensure the welfare and prosperity of citizens.
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“We are going to do more on security and investing in education, as we believe that education is the greatest weapon against poverty. We welcome partners like CCA, and we will strengthen our partnership to achieve our goals,” he stated.
Similarly, Tinubu’s deputy, Vice President Kashim Shettima on Thursday expressed optimism that the country will overcome its economic challenges with collective efforts in developing a clear and actionable roadmap through short-term, medium, and long-term strategies.
Shettima stated this during the 139th meeting of the Council held virtually which he chaired, calling for sound economic decisions that will reverberate with the expectations of Nigerians.
“We must either redirect the economy towards a place of boom and competitiveness or brace for an impact we are unlikely to survive. So, beyond the heritage of our financial and monetary fiascos, we must compare notes to understand the interconnectedness of the dysfunctions in each sector of the economy,” he stated.
The Vice President expressed hope that with collective efforts in developing a clear and actionable roadmap through short-term, medium, and long-term strategies, Nigeria will overcome its current economic challenges.
Shettima also regretted that Nigeria had been a victim of strong averseness to evolving and keeping up with the changing global economic order, leading to a situation where making difficult decisions to maximize its potential has become inevitable.
Delivering his opening speech titled, “It’s Time To Speed Up Our Prosperity Quest,” Senator Shettima told council members that President Bola Ahmed Tinubu desires that they all stand together to collectively proffer solutions to safeguard the nation’s economy from imminent implosion.
He observed that while the wealth of every nation is in the belly of its citizens, the government has a long distance to cover in its interventions to enhance “food availability and affordability.
“The call to secure and liberate areas under threat from violence, most of which are arable lands owned by our farming communities, is not just a matter of security but a strategic move to revive the economic lifeblood of our nation,” he stated.
