President Bola Tinubu has expressed confidence that the economic policies implemented under his administration are beginning to yield positive outcomes, despite their initial hardships on the Nigerian people.
Speaking at the 34th and 35th convocation ceremonies of the Federal University of Technology, Akure (FUTA), Tinubu, who was represented by Prof. Wahab Egbewole, the Vice-Chancellor of the University of Ilorin, emphasized that these tough decisions were necessary to steer the country away from its ongoing crises.
In his address, Tinubu reflected on the significance of the difficult measures, such as the removal of fuel subsidies and the unification of exchange rates, which have had immediate and far-reaching consequences for many Nigerians. While acknowledging the hardship these steps have caused, he reaffirmed that they were essential for securing the country’s future and preventing economic collapse.
“The need to salvage the future of our children and bring the country back from the brink of collapse necessitated the strategic decisions to remove the fuel subsidy and also unify the exchange rates,” Tinubu said in the speech delivered by Egbewole. He also noted that, while the consequences of these policies were not lost on him, their impact on the country’s macro-economy has been beyond expectations, and the micro-economy, which directly affects citizens, is gradually showing signs of improvement.
Tinubu expressed optimism about the future, stating that the country is transitioning from a consumption-driven economy to one focused on production, ensuring long-term prosperity. “By the grace of the Almighty God, every household will experience a better life and have brighter hope for the future,” he added.
The President also highlighted his administration’s efforts in improving national security, assuring citizens that security forces are making significant progress. He assured the nation that the security architecture is steadily advancing, working to eliminate the security challenges that have plagued the country in recent years.
As he concluded, Tinubu reiterated that his government is committed to making Nigeria a prosperous nation for all, urging citizens to continue supporting the administration while also acknowledging and welcoming constructive criticism.
