The Federal Government has assured Nigerians of better days ahead as it implements policies aimed at revamping the nation’s economy.
Since coming to power last year, President Bola Ahmed Tinubu has introduced reforms intended to revive the economy and attract foreign investment.
However, Nigerians have experienced soaring fuel prices and inflation reaching a three-decade high since Tinubu ended a fuel subsidy and floated the naira currency.
Speaking at the 30th anniversary of the Nigerian Economic Summit in Abuja, the Minister of Budget and Economic Planning, Atiku Bagudu, reassured Nigerians that despite the current hardships, there would be light at the end of the tunnel.
“Those are significant pieces of evidence that reforms and investments are working. These governance and institutional reforms have helped to improve our macro-economic performance.
“Our GDP has been enhanced from 2.98 per cent growth in first quarter of 2024 to 3.19% in quarter two of 2024, inflation is trending downwards while external reserves are improving.
“We seek cooperation and understanding of the broad spectrum of the citizenry as there is indeed light at the end of the tunnel.”
The minister noted that Nigeria’s external trade balance improved slightly in Q2 of 2024, indicating the effectiveness of the current administration’s reforms.
Bagudu expressed confidence in the state of the nation’s economy, stating that it is moving in the right direction with a decline in inflation among other positive economic indicators.
“What has been achieved is a result of boldness, resilience and collaboration. We need more to compensate for the decades of under-investment and to ensure that we deliver a collaborative, competitive and stable environment,” he stated.
He explained that the summit’s theme, ‘Collaborative action for growth, competitiveness and stability,’ reflects the critical imperatives necessary to sustain the nation’s economic growth and development.
Bagudu also emphasized that the government is making consistent efforts to improve the lives of all Nigerians in line with the renewed hope agenda.
