Rita Odafe
President Bola Ahmed Tinubu
President Bola Ahmed Tinubu announced that his recent reforms are already yielding positive effects.
This statement was made on Wednesday during his presentation of the 2025 Appropriation Bill to a joint session of the 11th National Assembly in Abuja.
He emphasized that the Nigerian economy is beginning to show improvement due to a series of fiscal and monetary measures implemented by the government.
To maintain this positive trend, he plans to introduce specific fiscal stimulus initiatives, strategic spending, and methods that avoid inflation.
Tinubu stated, “I report today that our economy is responding positively to stimulus. Our objective is to further stimulate the economy through the implementation of targeted fiscal stimulus packages, public expenditure, and specific non-inflationary spending. The reforms we have instituted are beginning to yield results, with no reversals.”
He reassured the public that Nigeria is on track towards developing a more functional and robust economy, reaffirming the administration’s dedication to sustainable growth.
“Nigerians will soon experience a better and more functional economy. Global economic growth for the outgoing year was 2.0 per cent,” he added.
Tinubu also compared Nigeria’s economic growth against global trends. Although the projected global growth for 2024 was 3.2 percent, Nigeria exceeded expectations with a remarkable growth rate of 3.46 percent.
He credited this success to the effective execution of the 2024 budget, which has set a solid groundwork for the upcoming 2025 budget.
“For 2024, it was projected at 3.2 per cent, and contrary to predictions for our country, we have made significant progress. Our economy grew by 3.46 per cent. The improvements we achieved in the 2024 budget have laid the groundwork for the 2025 budget,” Tinubu concluded.
