FG’s reforms rewrite Nigeria’s economic underperformance story – Tinubu

President Bola Tinubu says his administration is rewriting Nigeria’s decades-long story of economic underperformance through far-reaching reforms designed to unlock the country’s enormous economic potential. Tinubu, represented by Vice-President Kashim Shettima, stated this on Monday at the 32nd Nigerian Economic Summit held in Abuja. The president said his administration began its tenure with difficult economic decisions aimed at addressing structural challenges that had hindered Nigeria’s growth and development for decades.

“There is no shortcut to economic growth,” stressing that the government had embarked on a difficult economic reset to establish a sustainable foundation for national prosperity. According to him, the administration is pursuing its original mission of transforming Nigeria’s economic fortunes and reversing years of performance below the country’s potential. “We came to rewrite the story of a nation that has performed below its potential for far too long,” Tinubu said.

He explained that the reforms were necessary to dismantle longstanding economic barriers, strengthen national productivity and create opportunities for Nigerians across different sectors. The president said rescuing the economy involved more than improving economic indicators, noting that the ultimate objective was to improve livelihoods and expand opportunities for citizens. “For us, rescuing the economy means rescuing livelihoods and transforming the fortunes of young jobseekers, farmers, manufacturers, entrepreneurs and innovators,” he said.

Tinubu stressed that economic stability remained essential to harnessing the opportunities presented by Nigeria’s growing population and abundant human and natural resources. “We cannot harness the immense opportunities offered by our growing population without first stabilising the economy,” he said. He said the administration had created conditions for the public and private sectors to invest, expand their operations and generate productive employment.

According to him, the government has introduced reforms to dismantle structural barriers that prevented the country’s resources from translating into widespread prosperity. “These reforms are restoring confidence, strengthening our economic foundations and laying the groundwork for sustainable growth,” the President said. Tinubu said the administration was encouraged by the progress…