- Nigeria has been grappling with galloping inflation since the Tinubu administration ended the petrol subsidy regime and unified the exchange rate in 2023.
President Bola Tinubu says his government is working relentlessly to address the economic challenges facing the nation.
Speaking when he hosted the leadership of the All Progressives Congress (APC) Presidential Campaign Council to 2024 Ramadan Iftar at the State House on Wednesday, Tinubu said he does not have a magic wand but he would continue take actions that ameliorate the suffering of the people.
Nigeria has been grappling with galloping inflation since the Tinubu administration ended the petrol subsidy regime and unified the exchange rate in 2023.
In its latest report, the National Bureau of Statistics (NBS) said inflation rose to 31.7 percent in February 2024 — up from 29.9 percent in the previous month.
The president, however, implored the citizenry not worry about the cost of living crisis as he is working to bring down inflation.
He added that the economic outlook is positive and the country’s capacity to generate revenue is getting better.
“It is the hard job that you promised the people of Nigeria when you were campaigning for me, you promised them a good result. Didn’t you? That is it! I have to work for it. No magic wand,” he said.
“I campaigned on hope, I have to rest on that hope, and push for that hope for the joy of everyone of us.
“The economy is looking good. Don’t worry about that… we know we have the challenge of inflation, it is okay, we will bring it down.
“We are reengineering, our revenue is getting better.”
The president said Nigeria is regaining its respect and sovereignty around the world.
“Not that we have to go there and hire them to do the job for us, we are doing it ourselves. Whatever is happening to us, we have to solve it by ourselves,” he said.
“It is your effort, your thinking, your resourcefulness, your investment, your dedication and hard work that can only get us there.”
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