By Ohuakanwa Chibuzo
President Bola Ahmed Tinubu addressed the nation yesterday, reassuring citizens that the economy is not in distress and that efforts are underway to overcome current challenges. Speaking at the 16th Leadership Conference and Awards in Abuja, Tinubu emphasized the need for patience and collective support in navigating the country through its economic hurdles.
Tinubu highlighted recent economic indicators that contradict the notion of a distressed economy. He pointed out that since the removal of the petrol subsidy, importation of petrol has decreased significantly, leading to increased revenues for all tiers of government. Additionally, he noted positive growth trends in various sectors, including a 3.46% GDP growth in the last quarter of 2023 and a substantial increase in capital importation.
The event, themed “An economy in distress: which way forward?” and organized by Abuja-based Leadership Newspaper, provided a platform for leaders to discuss strategies for economic revitalization.
ALSO READ: Shehu Sani slams propagator of UAE’s visa ban lift
Former Central Bank of Nigeria Deputy Governor, Prof. Kingsley Moghalu, echoed Tinubu’s sentiments, supporting the bold reforms initiated by the administration. Moghalu emphasized the importance of addressing root causes rather than just symptomatic issues, urging for comprehensive economic restructuring.
Moghalu proposed significant reforms, including reducing the size of the government’s cabinet and establishing a specialized economic advisory team composed of distinguished economists.
In recognition of his leadership and resilience, Tinubu was awarded the Leadership Newspaper’s Person of the Year 2023. The award organizers praised Tinubu for his commitment to implementing necessary but difficult decisions aimed at steering the country towards economic prosperity.
The event also celebrated Awwalu Salisu, a tricycle operator from Kano, who returned N15 million to a passenger. Salisu received a generous reward, including scholarships and financial assistance, from various dignitaries and organizations.
Zainab Nda-Isaiah, Chairman of Leadership Group Limited, reflected on the significance of the conference, which coincided with the 20th anniversary of LEADERSHIP’s founding. She emphasized the role of the event in addressing national challenges and offering innovative solutions for the country’s progress.
The conference provided a platform for leaders and stakeholders to engage in constructive dialogue and chart a course towards sustainable economic development. Despite prevailing challenges, the consensus remains optimistic about Nigeria’s potential for growth and prosperity.
