Bola Tinubu has reiterated his administration’s efforts to restoring confidence in Nigeria economy through measures aimed at reducing inflation, stabilising the foreign exchange market, and improving fiscal management.
Tinubu stated this on Tuesday at the 17th Annual Chartered Institute of Bankers of Nigeria, CIBN, Banking and Finance Conference held in Abuja.
Represented by Kashim Shettima, Tinubu described theme of the CIBN Conference, ‘Accelerating Economic Growth and Development: The State of Play and the Way Forward,’ as timely and imperative.
He noted that the conference came at a time the nation was grappling with interrelated challenges ranging from high inflation, rising costs of living, unemployment, infrastructure deficits and effects of global economic shifts.
He observed, however, that the challenges also presented opportunities for growth and development.
He also noted that his administration was committed to strengthening infrastructure development in the ongoing bid to grow Nigeria’s economy.
In addressing the challenges, He stated that the administration had taken bold but painful steps to reform the macroeconomic environment.
“We are committed to upgrading Nigeria’s infrastructure to support economic growth.
“We are investing in roads, railways, and energy projects through public-private partnerships to reduce transportation costs and improve market access,” he said.
Tinubu further stated that though painful in the short term, the removal of fuel subsidies is designed to free up budgetary resources for critical investments in infrastructure and social services.
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