As Nigerians continue to face economic hardship as a result of the elimination of gasoline subsidies, President Bola Tinubu promised them on Thursday that he will triumph with patience and commitment.
The President stated that in order to construct a better future for the country, the “bitter pill” must be administered to an ailing nation and economy.
President Tinubu reaffirmed his support for a robust public-private sector partnership to grow the economy in an address to members of the Board and Management of the Nigeria Economic Support Group, NESG, in Abuja, saying that his administration’s sustained, bold, and coordinated reforms are anchored on a “strong adherence to accountability and transparency.”
The President reaffirmed his unwavering commitment to fully implement the Renewed Hope Agenda’s eight priority reform areas over the next three years.
He emphasised that Nigeria is endowed with abundant human and natural resources, as well as deficit opportunities, which can be quickly leveraged into new prosperity, urging the urgent exploitation of Nigeria’s diversity for collective gain, with a focus on new agricultural think tanks and the establishment of a commodity exchange.
“We have gone through the past,” he says. I’m not going to look back. My horse’s and my race’s concentration remains forward-looking. We have a plethora of expertise and undeveloped natural resources, as well as a God-given agriculture sector, but we are hesitant to take the massive measures that will result in prosperity for our people. We are not utilising our variety for success; instead, we are at odds, bickering over trivial matters, rather than thinking and doing for our people.”
The President stated that he was elected on a “no excuses” campaign to restore hope, and that he will not take excuses from anyone in his administration as they work to implement his plan.
“For every reformer, looking backwards is regressive. Looking ahead might provide you with the jumps that will propel you in the right direction. The agricultural sector need think tanks. I don’t understand why Nigeria, which has such fertile soil, does not have a commodity exchange. I don’t see why we haven’t been able to investigate and propel our real estate sector.
“I don’t see why we haven’t used consumer credit to increase our people’s purchasing power and the capacity of our own manufacturing sector,” the President said.
While praising the NESG for believing in his administration’s reforms, the President stated that the “bitter pill” must be taken to an ailing nation and economy in order to establish a better future for the country.
“I’m here, and I believe we can accomplish this together.” Nobody succeeds on their own. The world is changing. We face climate change and other problems, yet there is a quiet and peaceful place for those who can toil well somewhere in the eye of the storm. “We will succeed with patience and determination,” the President assured.
Mr. Olaniyi Yusuf, Chairman of NESG, commended the Tinubu administration’s economic reforms, particularly the removal of fuel subsidies, the harmonisation of foreign currency rates, food security, and palliatives for sub-national governments.
The NESG Chairman vowed that the NESG would cooperate with the newly inaugurated cabinet to achieve the administration’s eight-point plan.
“Your track record as the Governor of Lagos in the effective implementation of bold economic reforms leaves those of us in the private sector without doubt that you will achieve much greater feats as our nation’s president,” the NESG Chairman revealed.
He used the courtesy visit to formally request that the President declare open the NESG Summit in October, as well as to direct the heads of Ministries, Departments, and Agencies (MDAs) to collaborate with them and fully participate in the Summit as part of efforts to increase local and foreign direct investment in Nigeria.