Elizabeth O.
Speaking at the State House during the 2024 Ramadan Iftar event, Tinubu acknowledged that there is no quick fix but assured the nation that efforts are underway to tackle the issue.
Since the Tinubu administration ended the petrol subsidy regime and implemented a unified exchange rate in 2023, the country has witnessed a steady increase in inflation.
According to the latest report from the National Bureau of Statistics (NBS), inflation reached 31.7 percent in February 2024, up from 29.9 percent in the previous month.
Tinubu highlighted the administration’s focus on improving revenue generation capacity, expressing optimism about the country’s economic outlook.
He reminded the audience of the promises made during his campaign and acknowledged the hard work required to deliver positive results.
“I campaigned on hope, and it is on that hope that I will rely to bring joy to all of us. The economy is showing positive signs, so there is no need to worry.
We understand the challenge of inflation, but rest assured, we will address it. We are restructuring and our revenue generation is improving,” Tinubu stated.
The president also emphasized the importance of Nigeria’s self-reliance and the country’s growing reputation on the global stage. He expressed the administration’s commitment to solving problems independently, without relying on external assistance.
“We don’t need to hire others to do the job for us; we are capable of handling our own challenges. It is through our collective efforts, resourcefulness, investments, dedication, and hard work that we will achieve our goals,” Tinubu affirmed.
In summary, President Tinubu acknowledged the concerns raised by Nigerians regarding inflation and assured the nation of his administration’s determination to address the issue.
He emphasized the positive trajectory of the economy and expressed confidence in Nigeria’s ability to overcome challenges through self-reliance and collective effort.
