President Bola Ahmed Tinubu has stated that he is aware of the ‘transient hardship’ his economic policies have caused Nigerians.
Bellnews reports that the President’s policy decisions, especially the removal of fuel subsidy have led to economic hardship in the country.
Speaking at the 78th session of the United Nations General Assembly (UNGA) on Wednesday morning, Tinubu explained that he removed the ‘costly and corrupt fuel subsidy’ and discarded the ‘noxious exchange rate system’ on his first day in office to foster economic growth and investors’ confidence in Nigeria.
However, the President said that it was important for Nigerians to go through the transient hardship to enable his government to build the economy they deserve.
He said, “I am mindful of the transient hardship that reform can cause. However, it is necessary to go through this phase in order to establish a foundation for durable growth and investment to build the economy our people deserve.”
The President, therefore called on the global community to partner with Nigeria and Africa in a mutually beneficial manner.
“The question is not whether Nigeria is open for business. The question is how much of the world is truly open to doing business with Nigeria and Africa in an equal, mutually beneficial manner,” Tinubu said.