Tinubu doesn't agree that Nigeria's economy is in distress

President Bola Tinubu has expressed disagreement with the widely held notion that the Nigerian economy is in distress following the effect of his administration's policies and reforms.

The President said this while speaking as a special guest of honour at the 16th annual LEADERSHIP Conference and Awards 2023 in Abuja on Tuesday, March 5, 2024.

His comments come amid nationwide concerns over the rising cost of living, hunger crisis, and prevailing hardship, triggered by a slew of reforms embarked upon by his government.

The dire situation has left many Nigerians hopeless, leading to protests and looting in parts of the country.

On Sunday, March 3, 2024, residents of the FCT invaded a warehouse and looted food items. In the same vein, hoodlums in Kaduna looted a BUA truck conveying cartons of spaghetti.

However, despite these worrying signs, Tinubu insisted that Nigeria isn't helpless.

He maintained that his administration's reforms have set Nigeria on the path of sustainable economic success, even though the early stages might be fraught with some challenges.

The President also urged Nigerians to remain patient as his economic reforms begin to take effect, promising a more stable and prosperous future.

“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," Tinubu, represented by the Minister of Information and National Orientation, Mohammed Idris Malagi, said.

“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,” he added.

At the event, the President was named the LEADERSHIP Person of the Year for his monumental victory at the All Progressives Congress (APC) primary and subsequent success at the 2023 presidential election.