Tinubu's Presidency: "Not Yet What We Want it to Be," FG Speaks on Nigeria's Economy
- Mohammed Idris, minister of information and national orientation, on Wednesday, July 9, said that the Nigerian economy is steadily improving
- Idris noted that the alleged improvement is as a result of the implementation of several reforms under President Bola Tinubu
- The minister spoke in Abuja while receiving members and newly elected executives of the Nigerian Guild of Editors during a courtesy visit to his office
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Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering public affairs and governance.
FCT, Abuja - The federal government (FG) has declared that Nigeria’s economy is showing signs of steady recovery under President Bola Tinubu.
As reported by Guardian, the FG attributed the purported positive momentum to wide-ranging reforms spearheaded by the administration.
Source: Facebook
The Nation also noted the FG's stance.
Mohammed Idris, minister of information and national orientation, stated this on Wednesday, July 9, in Abuja, while receiving members and newly elected executives of the Nigerian Guild of Editors (NGE), during a courtesy visit to his office.
FG: Nigeria's economy progressing
Idris stated that although Nigeria’s economy under President Tinubu was not yet in “El-dorado”, no one could say that there was no progress, adding that international rating agencies were beginning to take note of Nigeria’s economic direction.
He said:
“The economy is not yet what we want it to be but we can see that there is a steady progression. The President has said over and over again that we are turning the corner. I know that many people will say it’s not yet El-dorado. Yes! I also agree but you cannot always say that there is no progress.
“Even all the rating agencies in the world are also giving Nigeria some pass marks. We are seeing some upward ticks in the way our economy is being managed."
Furthermore, the minister explained that major policy reforms such as the removal of fuel subsidy and the unification of foreign exchange rates are already yielding positive impacts on the economy.
Idris pointed out that these policies, though tough, are part of the Tinubu administration’s strategy to stabilise and grow the economy in the long term.
'Nigerians now living within their means'
In the same vein, former aide to ex-president Goodluck Jonathan, Reno Omokri, stated that Nigeria’s economy under President Tinubu is on a more sustainable path than under the previous administration led by Muhammadu Buhari.
Omokri, who was a guest on Channels Television’s 'Politics Today', on Wednesday, July 9, argued that President Tinubu has taken necessary but tough decisions to correct what he described as the economic illusion Nigeria was under during Buhari’s tenure.
Source: Facebook
Omokri said:
“We were living in a fool’s paradise. Tinubu has taken that away and we are now living within our means. Should we continue to go into debt because we want to give our people an artificial luxury? We were borrowing so much under ex-President Buhari.”
Purchasing power and standard of living
Addressing the question of the average Nigerian’s purchasing power and livelihood, the social media personality said despite present hardship, the shift away from debt dependency was necessary.
He said:
“The impression people have is that things are worse, but the truth is we have to look inward. Everything Tinubu is doing are the things that Peter Obi and Atiku said they would do."
Trump warns Nigeria of 10% tariff
Earlier, Legit.ng reported that President Donald Trump of the United States (US) said at least seven countries can expect tariff letters, as he ramped up pressure on nations to strike deals with America by saying his new August 1 deadline would not be extended.
President Trump announced that Nigeria will be among countries facing an additional 10% tariff for aligning with what he described as the “anti-American policies of BRICS.”
Source: Legit.ng
