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Tinubu’s reforms meant to meet 4.17% GDP target in 2025 – Akpabio

Senate President Godswill Akpabio, on Monday, told a delegation from Switzerland that President Bola Ahmed Tinubu’s economic policies, including the fuel subsidy removal, were meant to meet a 4.17% GDP target this year.

Akpabio, who hosted the visiting officials at the National Assembly Complex in Abuja, said the meeting was a moment brimming with opportunity and the promise of a partnership that can shape the destinies and prosperity of the two countries.

Senator Carlo Sommarugo, Elizabeth Schneider-Schneiter, Leader of Delegation, Thomas Aeschi and Ambassador of Switzerland to Nigeria, Nicolas Land, were part of the delegation.

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Akpabio said, “Nigeria’s economy is on a transformative journey under the leadership of President Bola Tinubu, GCFR.

“With bold reforms such as the removal of fuel subsidy and the unification of the naira exchange rate, the government has taken decisive steps to stabilise the economy and attract foreign investment.

“These measures are laying the foundation for sustainable growth, with projections indicating a promising GDP growth rate of 4.17% in 2025.

“In addition, President Tinubu’s administration is prioritising credit access and entrepreneurship to drive economic expansion. The forthcoming establishment of the National Credit Guarantee Company aims to empower businesses and individuals, fostering innovation and job creation.”

Earlier, Aeschi said the delegation was at the National Assembly to explore ways to deepen economic partnership with Nigeria and identify new areas of collaboration.

“The potential of this country is huge, just looking at its population size. I am convinced that parliamentary diplomacy can help to strengthen ties and re-launch processes for our governments.

“While EFTA, the European Free Trade Association, does not yet have a formal trade negotiation process with Nigeria in place, we are here to lay the groundwork for future possibilities,” he added.

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