President Bola Tinubu has reaffirmed his administration’s commitment to transforming Nigeria’s economy through sweeping reforms, saying the government is determined to address decades of underperformance and unlock the country’s economic potential.
Tinubu spoke on Monday in Abuja while declaring open the 32nd Nigerian Economic Summit, where he was represented by Vice President Kashim Shettima.
The President said his administration was pursuing the mandate it assumed office to fulfil, which he described as rewriting the story of a nation that had failed to realise its full potential for too long.
“We came to rewrite the story of a nation that has performed below its potential for far too long,” Tinubu said.
He acknowledged that the administration began its tenure with difficult economic decisions, stressing that achieving sustainable growth required confronting longstanding challenges rather than seeking quick solutions.
“But there is no shortcut to economic growth. This is why we began with a difficult reset,” he said.
According to the President, the reforms were intended not only to stabilise the economy but also to improve the livelihoods of Nigerians and create better opportunities for different sectors of the population.
“For us, rescuing the economy means rescuing livelihoods and transforming the fortunes of young jobseekers, farmers, manufacturers, entrepreneurs and innovators,” he said.
Tinubu said the administration’s economic agenda was focused on changing Nigeria’s economic trajectory and ensuring that the country’s vast resources and opportunities translated into improved living conditions for its citizens.
He emphasised that economic growth must go beyond policy adjustments to deliver meaningful benefits to ordinary Nigerians, particularly young people seeking employment, farmers working to increase production and businesses striving to expand their operations.
The 32nd Nigerian Economic Summit brought together stakeholders from government, the private sector and other sectors to discuss Nigeria’s economic direction and identify strategies for sustainable growth.
The summit provided a platform for discussions on the country’s economic challenges, reform priorities and opportunities for strengthening productivity, investment and job creation.
Tinubu’s remarks reaffirmed his administration’s position that difficult economic decisions were necessary to address longstanding structural challenges and establish a foundation for sustainable growth.
The President maintained that the ultimate objective of the reforms was to improve livelihoods, expand economic opportunities and enable Nigerians to benefit more from the country’s economic potential.