President Bola Ahmed Tinubu has expressed confidence that his ongoing reforms are beginning to show tangible results, signaling a positive trajectory for Nigeria’s economy. Tinubu made the remarks on Wednesday while presenting the 2025 Appropriation Bill to a joint session of the 11th National Assembly in Abuja. He emphasized that the country’s fiscal and monetary interventions are bearing fruit, leading to a more resilient economic outlook.
During his address, Tinubu pointed out that the Nigerian economy is responding positively to a series of strategic measures implemented by his administration. He noted that the government’s focus on fiscal discipline and targeted monetary interventions has started to yield positive outcomes. “I report today that our economy is responding positively to stimulus,” the president said. “Our objective is to further stimulate the economy through the implementation of targeted fiscal stimulus packages, public expenditure, and specific non-inflationary spending.”
The president’s assertion reflects his administration’s commitment to maintaining this economic momentum. He assured Nigerians that the government is determined to continue its efforts to strengthen the economy. “The reforms we have instituted are beginning to yield results, with no reversals,” he added. Tinubu also stressed that the country is on the right path to a more functional and resilient economy, with sustained efforts aimed at fostering long-term growth.
Tinubu reassured the public that the current administration’s policies are aligned with sustainable economic growth. He remarked, “Nigerians will soon experience a better and more functional economy,” further affirming that the government’s actions are geared towards creating a more robust economic foundation. His statements came amidst global economic challenges, with Tinubu highlighting the positive direction of Nigeria’s economy despite external pressures.
The president also shared insights into Nigeria’s economic performance relative to global trends. While global economic growth for 2024 was projected at 3.2%, Tinubu proudly noted that Nigeria had outperformed expectations. “Our economy grew by 3.46 per cent,” he declared. This growth, according to the president, was a direct result of the effective implementation of the 2024 budget, which laid the groundwork for the upcoming fiscal plan.
By exceeding growth expectations, Tinubu argued that Nigeria’s economic resilience is a testament to the successful execution of the 2024 budget. The budget’s positive outcomes have, according to the president, positioned the country for a stronger fiscal year in 2025. “The improvements we achieved in the 2024 budget have laid the groundwork for the 2025 budget,” he said, indicating that the 2025 fiscal plan builds upon the progress made in the previous year.
