President Bola Ahmed Tinubu has listed 12 remarkable economic milestones recorded by his administration as a result of the implementation of sound fiscal and monetary policies.
Exuding confidence about the workability and potency of his bold socio-economic reforms, he reiterated that Nigeria had finally turned the corner, adding “the worst is over.”
“In the last 28 months of my administration, like our founding fathers and leaders, who came before me, I have committed myself irrevocably to the unfinished nation-building business,” he said in his Independence Anniversary broadcast to the nation this morning.
President Tinubu, who urged Nigerians to team up with his government in accomplishing the unfinished task, assured Nigerians of great relief after the transient pains of reforms.
He hailed the endurance, support and understanding of Nigerians as his administration redirected the economy towards a more visible path, noting that their patience was not in vain.
The 12 milestones highlighted by the President are:
•Record-breaking increase in non-oil revenue;
•Restoration of fiscal health as manifested in reduced debt service-to-revenue ratio;
•Stronger Foreign Reserve, increased tax-to-Gross Domestic Product (GDP) ratio;
•Increased export drive leading to the strengthening of the currency and job creation;
•Increased oil production up to I.6 million barrels per day, and domestic refining; and
•N330 billion social investment programme for poor households.
Others are:
•Rise in coal mining activities;
•Expansion of rail, road, air and sea transport infrastructure;
•Improved sovereign credit rating through boom in oil stock market; and
•Slash in interest rate for the first time in five years by the Central Bank of Nigeria (CBN).
President Tinubu, who reflected on the journey to nationhood from October 1, 1960, when the country achieved Independence, paid tribute to the sacrifice, devotion and vision of the founding fathers who fought for self-rule.
