President Bola Tinubu has assured Nigerians that the nation is on a trajectory of recovery, reiterating his commitment to steering the country towards stability and growth.
Speaking during his inaugural Presidential Media Chat with journalists on Monday, Tinubu highlighted the administration’s progress despite challenges.
This declaration comes weeks after the president presented the 2025 budget proposal to the National Assembly.
Dubbed the ‘Budget of Restoration: Securing Peace, Rebuilding Prosperity,’ the N49.7 trillion budget seeks to consolidate economic reforms, stabilise the macroeconomic environment, promote inclusive growth, reduce poverty, and ensure equitable income distribution.
Addressing criticisms surrounding the budget, Tinubu remarked, “Regardless of what critics are saying and the criticism, this is a budget of restoration and hope. Nigeria is on the path of recovery. We can’t finish the job in one calendar year. I’m not giving myself any excuse. It is only 18 months.”
The president further emphasised the judicious use of funds, particularly in enhancing the welfare of security personnel.
“The funds are judiciously used. We consider the welfare of service men and women. We’ve a huge country with lot of forest, unoccupied spaces. So we need to give them credit for what they are doing today,” he said.
Tinubu also outlined plans to boost local production, support farmers, and improve food security through low-interest funding and export incentives.
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“We need to produce more for consumption locally. Give reasonable level of funding, and low interest rates to farmers. Improve the security so that people can return to farms and produce more food. Encourage procurement of manufacturing items. Production of jobs.”
The president noted that the administration is exploring measures such as compressed natural gas (CNG) initiatives and affordable transportation to stimulate economic growth.
“We are talking of export incentives, building affordable transportation, we’ve compressed natural gas (CNG).”
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