Nigerian President Bola Tinubu says the country is slowly emerging from years of deep economic and structural difficulties, insisting that the tough reforms introduced by his administration were necessary to avert fiscal collapse.
Speaking amid growing public concern over the rising cost of living and economic hardship, Tinubu defended his government’s policies, describing them as painful but essential steps towards rebuilding Africa’s largest economy.
The president said the reforms were designed to stabilise public finances, restore investor confidence and place Nigeria on a path of sustainable economic growth after years of mounting debt, subsidy burdens and currency instability.
“We inherited serious economic challenges that required urgent and decisive action,” Tinubu said, adding that early signs of recovery were beginning to emerge despite the difficulties faced by millions of Nigerians.
Since assuming office, Tinubu’s administration has implemented sweeping measures, including the removal of fuel subsidies and foreign exchange reforms, moves that have triggered sharp increases in inflation and living costs but which officials argue are critical for long-term stability.
The government maintains that the reforms will ultimately strengthen the economy, create jobs and improve national productivity, even as many Nigerians continue to struggle with the immediate impact of the policies.
