In celebration of President Bola Tinubu’s 100 days in office, the Federal Government on Tuesday said their administration inherited a battered economy but was able to change the narrative within their first 100 days in office, News About Nigeria reports.
In a statement, the Minister of Information and National Orientation, Mallam Mohammed Idris, lauded President Tinubu for his work in the last 100 days in office.
According to him, Tinubu’s focus extends beyond immediate relief. His administration is committed to boosting the real sector, fostering productivity, and creating millions of jobs crucial for long-term economic growth.
“Since May 29, President Tinubu has been at his duty post, working assiduously to deliver on his campaign promises as enunciated in his Renewed Hope Agenda for a better and greater Nigeria.
“The President began the journey to rebuild our battered economy, realising that our country was in a difficult situation with our public debts – both local and foreign – coupled with an unsustainable fuel subsidy regime that created, for several decades, a galling hole in our public finance, rendering the three tiers of governments insolvent and incapable of meeting the needs of the citizens.
“President Tinubu took a bold and courageous decision to remove the fuel subsidy to avert a national economic catastrophe of epic proportions. Fuel subsidy was a Sword of Damocles that hung over Nigeria for decades. It stunted growth and set the country a-borrowing,” Idris said.
He also described the adverse effects of fuel subsidy removal and the unification of the exchange rate on Nigerians as “momentary discomfort.”
