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My govt’s policies will propel Nigeria out of downturns – Tinubu
President Bola Tinubu said on Friday his administration has implemented bold policies to propel Nigeria out of the downturns occasioned by multiple shocks in the global economy.
The president stated this when he declared open the 2024 African Caucus Meeting held at the Transcorp Hotel, Abuja.
Tinubu, who was represented at the event by Vice President Kashim Shettima, said his administration remains committed to optimising the country’s economic potential to deliver favourable outcomes for citizens.
He said his government would ensure the overall sustainable development of Africa’s economy.
The president said: “As a government, we have initiated bold economic reforms aimed at steering our economy away from the downturns caused by multiple shocks in the global economy.
“We believe it is a path of recovery and resilience through significant economic transformation.
“Our reform efforts have been strategically focused on fostering fiscal and monetary efficiency, driving sustained long-term economic growth, and catalysing job creation in alignment with the SDGs’ priorities.
”Our efforts are yielding positive results, with improved macroeconomic stability and increased investment.”
He urged African countries to improve the quality of life for people across the continent.
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The president also stressed the need for African leaders to ensure that democracy, good governance, and economic institutions worked together.
”We need enhanced international tax cooperation to combat illicit financial flows and ensure that multinationals contribute fairly to our economies.
”We must also foster global economic cooperation to tackle shared challenges and leverage opportunities.
“However, we must also acknowledge the need to take responsibility for our development by undertaking the difficult structural and fiscal reforms required to boost long-term growth,” he added.
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