President Bola Ahmed Tinubu has defended the economic reforms introduced by his administration, insisting that the measures were taken with Nigeria’s long-term interests and the welfare of its citizens in mind.
The President made this known in a statement on Wednesday while giving an update on the policies implemented since he assumed office in 2023 and the results recorded so far.
Tinubu said the government’s reform agenda was designed to strengthen the economy, address existing weaknesses and create a more sustainable financial system for the country.
According to him, Nigerians deserve a clear explanation of the decisions taken by his administration, the resources involved, the progress made and the challenges that remain.
The President said he had directed the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, to present a detailed account of the reforms and their impact on the country.
Oyedele subsequently presented the administration’s assessment at a press briefing tagged “Nigeria’s Reforms Scorecard” on Wednesday.
Tinubu recalled that when his administration began implementing the reforms in 2023, he promised that the difficult decisions would ultimately help build a stronger economy and improve the country’s future prospects.
“When we began this journey of reform in 2023, I promised that the difficult decisions we were making would serve the purpose of building an economy that works better for you and a country that is stronger for our children,” the President said.
He explained that the scorecard was intended to show Nigerians what the reforms had achieved, the costs involved and the potential economic problems the government believed had been avoided by taking decisive action.
Tinubu stressed that the government owed Nigerians transparency regarding the country’s finances and the consequences of its economic policies.
“You deserve to see the numbers. You deserve to know what has changed and what these reforms mean for you, your family, your business and our country,” he said.
The President added that the government’s explanation was necessary because the reforms ultimately concern the country’s citizens and their collective future.
“This is your government. This is your country. This is our account to you,” Tinubu stated.
The administration has repeatedly maintained that its major reforms, including the removal of fuel subsidy and changes to the foreign exchange system, were necessary to address longstanding economic challenges and put Nigeria on a more sustainable path.
