According to Punch on Tuesday, November 21, 2024, President Bola Tinubu has told the world community that despite the initial difficulties faced by many, the economic reforms put in place by his administration are starting to show real results.CONTINUE FULL READING>>>>>
During a meeting with IMF Managing Director Kristalina Georgieva at the G20 Leaders’ Summit in Rio de Janeiro, Tinubu emphasized the need for patience and collaboration as the government continues to prioritize structural changes for sustainable growth.
“We have started seeing positive results from our reforms, and the Nigerian people now understand the need for them,” Tinubu stated. “But we have to reduce the hardship resulting from the implementation.”
The President acknowledged that the reforms, including subsidy removal and tax restructuring, have impacted the purchasing power of citizens. However, he highlighted the introduction of social safety nets designed to cushion the effects on vulnerable populations.
Tinubu also emphasized his administration’s focus on infrastructural development, stating that substantial investments are required to create an enabling environment for growth. “We must stimulate the much-needed infrastructure to boost our economy and create opportunities for our people,” he said.
Additionally, Tinubu revealed that the government is pursuing tax reforms aimed at expanding the nation’s revenue base without overburdening taxpayers. He described these reforms as critical to fostering inclusive economic growth and called on international institutions to support Nigeria in achieving its objectives.
Georgieva lauded Nigeria’s reforms as essential for long-term stability and pledged the IMF’s continued support. She commended the administration’s commitment to addressing the unintended consequences of reforms through targeted social investment programs.CONTINUE FULL READING>>>>>
Hello