President Bola Ahmed Tinubu has made a bold assertion, stating that without his economic reforms, Nigeria would have faced an inevitable collapse. Speaking at a recent event, Tinubu emphasized the critical role his administration’s policies have played in stabilizing the country’s economy amidst global challenges.
According to Tinubu, Nigeria’s economy was teetering on the brink when he took office. He pointed out that systemic issues like a bloated subsidy regime, inefficiencies in key sectors, and unsustainable debt levels were suffocating the nation’s growth. “The writing was on the wall,” Tinubu said. “Without immediate and drastic action, our economy would have plunged into a full-blown crisis.”
One of the cornerstone reforms Tinubu highlighted was the removal of fuel subsidies. While initially controversial and met with public outcry, he argued that it was a necessary decision to free up government funds for essential infrastructure and social services. “We couldn’t keep burning billions of naira on subsidies while our roads, schools, and hospitals crumbled. The sacrifice was necessary for long-term stability.”
The president also underscored his administration’s efforts in attracting foreign investments and diversifying the economy beyond oil. He noted that his team has been working on creating an enabling environment for sectors like agriculture, tech, and manufacturing to thrive.
Despite the backlash from some quarters over the hardships the reforms have caused, Tinubu remained resolute. “These reforms are not easy, but without them, the future would be bleak,” he stated.
His comments have sparked reactions across the country, with supporters applauding his bold moves and critics questioning the immediate impact on the average Nigerian’s livelihood.
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