President Bola Tinubu says the nation’s economy is on a gradual but steady path of recovery, assuring Nigerians that his administration will do more to meet their needs.
Tinubu said this during a meeting with traditional rulers led by the Sultan of Sokoto, His Eminence, Muhammad Sa’ad Abubakar III, and the Ooni of Ife, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi, at the State House in Abuja on Thursday, July 25, 2024.
The president said: “Today, the Bank of Agriculture is empty. We have to reactivate it. If they are not talking about flooding, they are talking of banditry. We have to start all over again. Yes, infrastructural decay is there.
“The Lagos-Calabar coastal road is not being done without studies. It is an economic energiser. From it, we can create infrastructure along the route to develop wind energy and generate power, and we can expand our irrigation network.
“The economic viability of infrastructure has to be studied before we embark on projects. How many dams are there on the corridors of Sokoto-Badagry? From there, we can energise electricity. We can do irrigation and additional farms.
“Even if it is two million hectares of arable land, you can create opportunities for farmers on a small scale. Then you have to find capital for them.
“Nigeria is on the path of recovery. You have heard it from the Minister of Finance, Mr. Wale Edun. We are not afraid of protests. Our concern is the ordinary people and the damages that will be done. Till today, I cannot forget the brand new 60 and 100-seater buses, down there in Lagos that were burnt down, and we are now complaining of transportation. That is the problem. That is why I must say thank you for talking to the citizens.”
He added that security was getting more attention and will be enhanced, saying: “Security is getting better, but we cannot take our eyes off the camera because it takes one accident for things to flare up. We are managing it.
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“We have created instruments to support the students so that they get education, consumer credit to expand the economy, to improve the purchasing power of the people in order to rejuvenate the economy within a short period of time. We are still recalibrating our oil usage.”
President Tinubu said he would continue to explain the economic reforms and projected benefits to Nigeria, adding that he would remain open to dialogue for the development of the country.
Tinubu urged the traditional rulers to reach out to citizens on the intentions of the government to deliver on its promises of “Renewed Hope”.
He said: “Now, we are sending money to the local governments. I addressed the governors today on that issue. I have been distributing fertilizer, rice, and other items to support the recovery of citizens.
“I assure you, Nigerians, we are looking at the light at the end of the tunnel. I can assure you, this economy will be revived, will survive, and prosper.”
On his part, Ooni thanked Tinubu for inviting the National Security Adviser, Nuhu Ribadu; the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; the Minister of Budget and Economic Planning, Abubakar Atiku Bagudu; and the GCEO of NNPCL, Mele Kyari; to brief the traditional rulers on the state of the economy.
“We want to encourage you, Mr. President, we will all get back to our various communities and let our people know because none of us locks our palaces,” the monarch added.
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