One year into his presidency, Nigeria’s President Bola Tinubu stated on Wednesday that his economic reforms will persist despite mounting hardships.
In his televised Democracy Day speech, Tinubu acknowledged the nation’s economic challenges but emphasized that the economy had long needed reform.
Amid the worst cost-of-living crisis in years, Nigerians are frustrated by his administration’s changes, including the removal of a petrol subsidy that kept prices low and the devaluation of the currency, which drove inflation to over 33 percent in April.
Tinubu explained that these reforms aim to build a stronger foundation for Nigeria’s future growth and to ensure economic opportunity and fair pay for all.
He also announced plans for a new minimum wage, assuring that his administration will continue to listen to the people as it pursues economic reform.