President Bola Ahmed Tinubu has said the economic reforms introduced by his administration are beginning to show clear and positive results, with improvements in macroeconomic stability and higher federal allocations to states and local governments.
Gatekeepers News reports that the president made this known on Monday in Abuja while declaring open a two-day National Economic Council (NEC) conference themed “Delivering Inclusive Growth and Sustainable Development: The Renewed Hope National Development Plan.”
The event brought together state Governors, federal officials, economic experts, development partners, and other key stakeholders to review progress and set priorities for national development.
Tinubu said that although Nigeria continues to face serious economic challenges such as inflation, unemployment, poverty, weak infrastructure, climate risks, and limited public funds, his government has taken decisive steps to address these issues. He noted that the resilience, innovation, and determination of Nigerians remain the country’s greatest strength.
“Since the inception of this administration, we have undertaken bold and necessary reforms to stabilise the economy, restore confidence and lay the foundation for long-term growth,” Tinubu said.
“These reforms are instruments for delivering prosperity, dignity and opportunity to all Nigerians. We have recorded notable achievements that reflect our commitment to cooperative federalism and inclusive development.”
The president explained that recent monetary and fiscal policy adjustments have started to produce measurable gains, adding that international institutions and investors have also acknowledged Nigeria’s renewed efforts to strengthen its economy.
According to him, one of the major achievements so far is the increase in federal revenue shared with states and local councils, which has helped to ease financial pressure at the sub-national level.
“States and local governments now receive increase and more predictable federal allocations, improving their capacity to pay salaries, invest in infrastructure and deliver social services,” he said.
Tinubu also highlighted improvements in revenue generation, public financial management, and fiscal coordination, saying these steps have helped to strengthen macroeconomic stability and reduce economic uncertainty.
He added that his administration has made infrastructure development a top priority, with increased investment in roads, rail, power supply, housing, digital connectivity, and irrigation to support productivity and job creation.
The president further noted that social investment programmes have been expanded to support vulnerable households, youths, women, and small businesses, with a focus on reducing poverty and promoting inclusive growth.
He said initiatives such as conditional cash transfers, skills development schemes, and support for micro, small, and medium enterprises are already making a difference in many communities.
Tinubu stressed that the combined impact of these reforms and interventions reflects his government’s commitment to building a resilient economy and ensuring sustainable development in the long term.
He added that while the reform process may be difficult, it is necessary to reposition Nigeria for lasting growth and shared prosperity.
