President Bola Ahmed Tinubu on Thursday declared that the {economic} reforms launched by his administration are yielding constructive outcomes, regardless of rising criticism over widespread hardship and a hovering price of dwelling.
Talking on the All Progressives Congress (APC) Nationwide Summit held on the State Home Banquet Corridor in Abuja, the president defended his coverage selections, insisting they’re in Nigeria’s finest curiosity.
“Two years in the past, we launched into this journey, propelled by a bus of hope and abiding religion in Nigeria,” Tinubu stated. “At this time, I’m proud to affirm that our {economic} reforms are working. There’s nothing good that comes simply. The subsidy is gone and was gone for the great of this nation.”
Since assuming workplace in Might 2023, Tinubu has launched sweeping reforms aimed toward stabilizing Nigeria’s battered financial system, together with ending gas subsidies and unifying alternate charges. Whereas these insurance policies have been praised by worldwide establishments just like the IMF and World {Bank}, they’ve additionally sparked outrage at house, the place thousands and thousands of Nigerians are grappling with report inflation and deepening poverty.
Based on latest World {Bank} and IMF knowledge, practically half of Nigeria’s inhabitants was dwelling in poverty in 2024, with meals and power costs skyrocketing past the attain of common residents.
READ ALSO: Tinubu Not Managed by Any Cabal — Info Minister Declares
Regardless of mounting public frustration, Tinubu doubled down on the reforms, saying his authorities was targeted on long-term {economic} revival fairly than short-term populism.
In the meantime, the APC used the summit to endorse Tinubu as its sole presidential candidate for the 2027 election. APC Nationwide Chairman Abdullahi Ganduje made the declaration earlier than a gathering of governors, ministers, and prime social gathering officers.
“Because the chairman of the social gathering and on behalf of the Nationwide Working Committee, I hereby affirm the assorted endorsements and declare President Bola Tinubu as the only presidential candidate of the APC,” Ganduje stated.
The endorsement, whereas unsurprising, indicators the social gathering’s intent to consolidate round Tinubu regardless of the controversial reforms and their impression on every day life.
