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Nigeria’s economy not in distress – Tinubu

By Abbas Jimoh, Philip S. Clement & Idowu Isamotu President Bola Ahmed Tinubu has dismissed the widely held belief that the nation’s economy is in…

By Abbas Jimoh, Philip S. Clement & Idowu Isamotu

President Bola Ahmed Tinubu has dismissed the widely held belief that the nation’s economy is in a crisis.

He said this on Tuesday in Abuja at the 16th annual LEADERSHIP Conference and Awards 2023, with the theme, ‘An Economy in Distress: Which Way Forward?’.

Apart from being penciled down as special guest of honour at the event, President Tinubu was also named the LEADERSHIP Person of the Year for braving monumental odds to clinch the All Progressives Congress (APC) presidential ticket and subsequently going ahead to win the keenly contested 2023 presidential election.

President Tinubu’s comment was coming on the heels of nationwide protests by Nigerians over the economic crisis and hardship that culminated on the Tuesday 27 February nationwide protest organised by the Nigeria Labour Congress (NLC).

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The resultant effects also led to pockets of separate protests by Nigerians in FCT, Niger, Lagos, Oyo, Sokoto, Kaduna, Kano, Taraba, Osun, Kogi, and Benue states, among others, with some of the protests leading to looting of government and private warehouses and also on trucks conveying food items to various destinations.

The president, however, urged Nigerians to remain patient as his administration’s economic reforms begin to take effect, promising a more stable and prosperous future for the nation.

He said while the path to a more robust and stable economy might be fraught with challenges, Nigeria is on course to achieving lasting economic success with the government’s reforms.

“I shall start by respectfully challenging the notion that Nigeria’s economy is indeed facing challenges, distress, suggesting helplessness. Being at the mercy of the people, we are at the mercy of something we have no control over.

“But that is not the case here. We have challenging times, no doubt, but these times have also been marked by unprecedented opportunities to research the cause and build a sustainable economy away from the rent-seeking and waste that was once the order of the day,” Tinubu, represented by the Minister of Information and National Orientation, Mohammed Idris Malagi, said.

Apparently replying to the Labour Party (LP) presidential candidate in the 2023 elections, Mr Peter Obi, President Tinubu also said the fact that Nigeria accepted grains from Ukraine does not make Nigeria a weak or failed state.

“Egypt gets about 60 per cent of its grains from Ukraine. The fact that Egypt gets about 60 per cent of its grains from Ukraine does not make it a failed state. The fact that we are having challenges at the moment does not make Nigeria a failed state,” he said.

He explained that fuel subsidy removal was a bold step in the right direction and urged Nigerians to support the president as the country would soon begin to reap the benefits.

In her welcome address at the event, Chairman of Leadership Media Group, Mrs Zainab Nda-Isaiah, said that the annual LEADERSHIP Awards ceremony is to celebrate individuals who dare to seize possibilities.

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