The president of Nigeria, Bola Ahmed Tinubu, claims to be aware of the “transient hardship” his economic policies have caused Nigerians to endure since the adventAccording to Tinubu, Nigerians must endure the temporary hardship in order for his administration to create the country’s economy that they are entitled to.removing gasoline subsidies.
In the early hours of Wednesday, September 20, 2023, the President made this statement while delivering his opening remarks to the 78th session of the United Nations General Assembly.
In order to promote economic growth and investors’ confidence in Nigeria, Tinubu said that in his first days in office, he got rid of the “expensive and corrupt fuel subsidy” and the “noxious exchange rate system.”
The withdrawal of the fuel subsidy was one of the President’s key policy initiatives, and as a result, Nigerians were forced to severe economic hardship as the cost of gasoline and other goods skyrocketed.
However, the President insisted that it was crucial for Nigerians to endure the momentary hardship in order for his administration to create the country’s economy that they rightfully deserve.
I am aware of the temporary difficulty that reform can bring, he remarked. To construct the economy that our people deserve, it is vital to go through this phase in order to lay the groundwork for long-term growth and investment.
The President urged the international community to collaborate with Nigeria and Africa in a way that would benefit both parties.
Nigeria is not open for business, that is not the question. How much of the world is actually willing to conduct business with Nigeria and Africa on an equal footing for both parties is the question, according to Tinubu.
He insisted that African growth must be prioritized by international organizations, other countries, and their private sector operators.