Nigerian govt reveals Tinubu’s game-plan to restore ‘battered economy’

The Federal Government said on Tuesday that President Bola Tinubu took office with a “battered economy” but within his first 100 days, reversed the narrative.

The Minister of Information and National Orientation, Mallam Mohammed Idris, said these in a statement titled, ‘President Tinubu’s 100 days of steady progress and national rejuvenation’.

According to him, exactly 100 days ago, President Tinubu assumed office following the mandate bestowed on him by Nigerians, who elected him as the 16th leader of Nigeria.

Idris said, “Since May 29, President Tinubu has been at his duty post, working assiduously to deliver on his campaign promises as enunciated in his Renewed Hope Agenda for a better and greater Nigeria.

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“The President began the journey to rebuild our battered economy, realising that our country was in a difficult situation with our public debts – both local and foreign – coupled with an unsustainable fuel subsidy regime that created, for several decades, a galling hole in our public finance, rendering the three tiers of governments insolvent and incapable of meeting the needs of the citizens.

“President Tinubu took a bold and courageous decision to remove the fuel subsidy to avert a national economic catastrophe of epic proportions. Fuel subsidy was a Sword of Damocles that hung over Nigeria for decades. It stunted growth and set the country a-borrowing.”

The statement affirmed that the President has not failed in his appeal to Nigerians to accept the existing circumstances, even though it described the negative impacts of the elimination of fuel subsidies and the unification of the currency rate on Nigerians as “momentary discomfort”.

The statement read, “In addition to subsidy removal, President Tinubu took further steps to unify the multiple foreign exchange markets. While these two vital steps to save the country from hitting the rocks brought momentary discomfort to Nigerians, President Tinubu has never failed in his appeal to Nigerians to see the current inconveniences as a price we must all pay to save our country from disappearing.”

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