The Current Challenging Times Will Lead To A New And Sustainable Economy – President Tinubu

President Bola Tinubu has come out to challenge the notion that the Nigerian economy is in distress.

He recently highlighted the unprecedented opportunities for growth and development in the country, and Nigerians have been reacting.

According to him, he does not believe the Nigerian economy is in distress because the nation is clearly not at the mercy of something we have no control over.

He added that we are definitely in challenging times, but it is all part of the plan to build a new and sustainable economy.

His words, “I should start by respectfully challenging the notion that the Nigerian economy is in distress. Distress suggests helplessness, being at the mercy of something we have no control over. But that is not the case here.

We are in challenging times, no doubt, but these times have also been marked by unprecedented opportunities, to reset course and to build a new and sustainable economy, away from the rent-seeking and the waste that was once the order of the day.

For the poorest and most vulnerable among us, the Social Investment Programme, currently under review to reposition it for maximum impact, will support millions of households with direct cash transfers that will enable them to meet their basic needs.

Since we assumed office in May 2023, we have attracted $30 billion in Foreign Direct Investment (FDI) commitments into the real sectors of the economy, including Manufacturing, Telecoms, Healthcare, Oil & Gas, and others.

Those investments have already started coming into the country. Just a few days ago, I was in Qatar on an official visit, where the Emir assured me that a senior government delegation would visit Nigeria after Ramadan, to begin taking action on some of the new investments they are looking at here. I have asked the Minister of Finance and Coordinating Minister of the Economy to directly interface with the Qatari authorities to ensure that speedy progress is made.”