Economic reforms yielding positive results - Tinubu

President Bola Tinubu says his administration’s economicreforms are beginning to deliver positive results, citing improvedmacroeconomic stability and increased federal allocations to states and localgovernments. Tinubu spoke while declaring open the two-day NationalEconomic Council (NEC) conference held in Abuja on Monday. The conference is themed ‘Delivering Inclusive Growth andSustainable Development: The Renewed Hope National Development Plan’. Addressing stakeholders at the conference on Monday, thepresident said Nigeria continues to grapple with macroeconomic imbalances,infrastructure deficits, unemployment, poverty, climate vulnerabilities, andlimited fiscal space, but noted that the resilience and creativity of Nigeriansremain a key strength. “Since the inception of this administration, we haveundertaken bold and necessary reforms to stabilise the economy, restoreconfidence 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 ourcommitment to cooperative federalism and inclusive development.” Tinubu said monetary policy reforms introduced under hisadministration have started to yield positive outcomes, adding that theprogress has been recognised internationally. He said one of the most significant achievements so far isthe improvement in federal revenue distribution, noting that states and localgovernments now receive higher and more predictable allocations. “States and local governments now receive increase and morepredictable federal allocations, improving their capacity to pay salaries,invest in infrastructure and deliver social services,” he said. Tinubu also said the administration has taken steps tostrengthen macroeconomic stability through improved revenue performance,stronger public financial management, and enhanced fiscal coordination. He added that infrastructure development has beenprioritised across key sectors, including transportation, power, digitalconnectivity, housing, and irrigation, describing infrastructure as a catalystfor inclusive economic growth. The president said his government has also expanded socialinvestment and human capital programmes targeted at vulnerable households,youths, women, and small businesses. He added that the combined impact of the measures reflectshis administration’s commitment to cooperative federalism and inclusivenational development. Tinubu also said the reforms were necessary to repositionthe economy and ensure sustainable growth in the long term.

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