Tinubu’s Economic Reforms Aim to Achieve 4.17% GDP Growth by 2025 – Akpabio

• President Tinubu’s economic reforms, including fuel subsidy removal and naira unification, target 4.17% GDP growth by 2025
• Senate President Akpabio highlights Nigeria’s economic potential and commitment to attracting foreign investment through bold policy changes

Senate President Godswill Akpabio has stated that President Bola Ahmed Tinubu’s economic policies, including removing fuel subsidies, are designed to achieve a projected GDP growth rate of 4.17% by 2025.

Akpabio made this assertion on Monday while hosting a Swiss delegation at the National Assembly Complex in Abuja.

During the meeting, Akpabio described the gathering as an opportunity to strengthen the partnership between Nigeria and Switzerland for mutual prosperity.

The delegation included Senator Carlo Sommarugo, Elizabeth Schneider-Schneiter, Thomas Aeschi, and Swiss Ambassador to Nigeria, Nicolas Land.

Akpabio said, “Nigeria’s economy is undergoing significant transformation under President Bola Tinubu’s leadership.

Bold reforms such as removing fuel subsidies and unifying the naira exchange rate are stabilizing the economy and attracting foreign investment.”

He added that these measures pave the way for sustainable growth and are part of efforts to achieve the 4.17% GDP target in 2025.

Additionally, Akpabio highlighted the government’s focus on improving access to credit and supporting entrepreneurship to fuel economic expansion.

He noted the planned establishment of the National Credit Guarantee Company, which aims to empower businesses, promote innovation, and create jobs.

Thomas Aeschi, a member of the Swiss delegation, expressed interest in deepening economic ties with Nigeria and exploring new areas of collaboration.

He remarked, “Nigeria’s potential is immense, especially considering its population size. Parliamentary diplomacy can play a key role in strengthening ties and initiating processes for cooperation between our governments.

Although EFTA (European Free Trade Association) has no formal trade negotiation process with Nigeria, we are here to lay the groundwork for future opportunities.”