In a groundbreaking revelation at the 16th Leadership 2023 conference and Awards in Abuja on March 5, 2024, President Bola Tinubu staunchly refuted claims of Nigeria’s economy being distressed.
Unveiling his perspective, Tinubu countered the notion, asserting that the challenges faced by the nation are not insurmountable.
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Addressing the gathering, Tinubu, who received the prestigious Person of the Year 2023 award, showcased his unyielding can-do spirit, a quality acknowledged for securing his victory in the 2023 presidential election.
Represented by the Minister of Information, Mohammed Idris, the President delved into the ongoing efforts to navigate economic issues and propel the country towards sustainable development.
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Defending recent policy decisions, including the removal of petrol subsidies, Tinubu underscored a 50% reduction in petrol imports and increased revenues for all tiers of government. He highlighted the positive impact on critical areas such as infrastructure, social security, and minimum wage.
Announcing the disbursement of N200 billion through special intervention funds, Tinubu outlined initiatives targeting businesses, traders, transport workers, ICT ventures, creatives, artisans, and the manufacturing sector. Notable among these were the Presidential Conditional Grant Scheme (PCGS), FGN MSME Intervention Fund, and the FGN Manufacturing Sector Fund.
In the education sector, the President disclosed plans for a new Federal Student Loan program and the impending rollout of CNG-powered buses, aiming to substantially reduce transportation costs.
Tinubu shared optimistic economic indicators, including $30 billion in Foreign Direct Investment commitments since May 2023, a 66% increase in capital importation in Q4 2023, and the Nigerian Stock Exchange All Share Index crossing the 100,000 points mark in January 2024.
While acknowledging challenges, Tinubu appealed to Nigerians for patience and support for the ongoing reforms. He called upon the media to responsibly report challenges, solutions, and opportunities, portraying Nigeria’s journey as a nation taking decisive steps toward a promising future.
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