Tinubu receives local and international praise for harsh economic reforms Nigerians complain about: Presidency

Ahead of the anniversary of President Bola Tinubu’s first year in office on May 29, the administration has stepped up claims that the Nigerian leader is doing well in steering the nation in the right direction.

The Presidency, through Tinubu’s media aide, Ajuri Ngelale, said the president had continued to implement measures aimed at reshaping the battered economy since he assumed office in May 2023.

Ngelale said this on Tuesday in Abuja.

The presidential spokesperson said: “Nigerians understand that this president, in his first days in office, dealt with the reform of the fuel subsidy regime, the reform of the financial markets, particularly with respect to the unification of the exchange rates.

“It put an end to the kind of incessant and really devastating back and forth that we were seeing within the purview of the Central Bank of Nigeria. But of course, sometimes stopping bleeding is not considered an achievement.

“But there is a reason why many others refused to do what this president has done now. That is why the president has been roundly praised, not only locally but internationally, for the reforms he has implemented.”

Ngelale explained that Tinubu was not unaware of the impact of the reforms on Nigerians and has embarked on a wide range of economic interventions to alleviate the plight of the citizens.

He said one such measure was interventions and capitalization of medium, small and micro enterprises (MSMEs), including N200 billion for all segments of the business population operating in the country.

Ngelale said Tinubu also did not neglect infrastructure development across the country in various sectors. He said these investments were intended to have a ripple effect among people operating along the value chain segments of such infrastructures.

Ngelale explained that last year also saw significant interventions in the area of ​​accelerating energy performance, especially with the agreement of Siemens Energy and others in off-grid energy supply.

He said Siemens was in the process of modernizing the country’s power transmission network to ensure greater quality and quantity of power supply to corporate and individual consumers.

Ngelale added that the President has dedicated $1 billion to off-grid energy through capital formation and mobilization of multilateral institutions dealing with the provision of off-grid solar home systems.

He said this would be allocated to primary health centres, rural communities and rural farms to reduce around 50 per cent of post-harvest losses in the country because produce could not reach markets.