Nigeria’s Economy Progresses Under President Tinubu’s Leadership

The Nigerian Presidency asserts economic progress under President Tinubu, highlighting improved security, economic stability, and plans for youth employment. Despite ongoing challenges, significant strides have been made in various sectors, positioning the nation towards a promising future. The government remains committed to further development and addressing citizens’ needs.

On Monday, the Nigerian Presidency asserted that the nation’s economy is progressing positively under President Bola Tinubu’s leadership. Bayo Onanuga, the Special Adviser to the President on Information and Strategy, expressed this sentiment in response to the Catholic Bishops’ Conference, which convened its inaugural plenary meeting of 2025 in Abuja over the weekend.

Onanuga stated that the bishops delivered a concerning assessment regarding the economy and the political landscape, characterizing their views as outdated. During the conference’s opening address, Archbishop Lucius Iwejuru, President of the Catholic Bishops’ Conference of Nigeria (CBCN), highlighted significant challenges such as youth unemployment, insecurity, poverty, corruption, and electoral fraud, urging national leaders to take immediate action.

The presidential aide acknowledged the valuable contributions of the Catholic Bishops towards governance, asserting that their dedication to national unity, peace, and stability is deeply respected by the government. Notwithstanding the issues raised, Onanuga emphasized that Nigeria has made significant progress in various sectors since President Tinubu took office 22 months ago.

In regard to security, he noted improvements, stating that Nigeria is currently safer compared to 2023, attributed to effective leadership and the efforts of military and security agencies. More than 8,000 criminals, including bandits and terrorists, have been neutralized, while over 10,000 victims have been rescued, thereby improving the agricultural sector and food production.

Onanuga remarked on the stabilization of the economy, which had suffered considerably before Tinubu’s administration. He highlighted improvements such as a favorable balance of trade, increased foreign reserves, moderated inflation, and a strengthened currency. Local refineries have begun to enhance refining capacity significantly.

The administration has initiated numerous programs aimed at fostering youth employment, aiming to create over 10 million new jobs through initiatives like 3MTT, NATEP, and the Nigerian Youth Investment Fund. Revenue collection has increased, supporting critical developmental priorities more effectively.

Under President Tinubu, expenditures on social and economic infrastructure have also risen, culminating in a groundbreaking budget of N54.9 trillion for 2025 aimed at revitalizing the economy. Onanuga noted that both local and international bodies have commended the government for implementing vital reforms, with Chatham House affirming that Nigeria’s economic competitiveness has improved markedly in light of these changes.

Although acknowledging that many citizens continue to face hardships, Onanuga reiterated the government’s commitment to making decisions that foster a more prosperous Nigeria. He assured that the Tinubu administration remains optimistic about the future and continues to pursue ongoing positive transformations in the nation.

In summary, the Nigerian Presidency, represented by Bayo Onanuga, has asserted that the economy is advancing positively under President Bola Tinubu. While acknowledging existing challenges, the government emphasizes significant improvements in security, economic stability, youth employment, and increased infrastructure spending. The administration remains committed to sustaining this positive trajectory, working towards a more prosperous Nigeria amidst ongoing difficulties faced by the populace.

Original Source: www.premiumtimesng.com