Tinubu commits to economic reforms as Nigeria marks democracy day

President Bola Tinubu has again told Nigerians that he understood the economic difficulties facing the nation and committed to efforts to reverse the situation.

In a national broadcast on Wednesday to mark Democracy Day, President Tinubu said, our
economy has been in desperate need of reform for decades”.

“It has been unbalanced because it was built on the flawed foundation of over-reliance on revenues from the exploitation of oil. 

” The reforms we have initiated are intended to create a stronger, better foundation for future growth.

” There is no doubt the reforms have occasioned hardship.”

He explained that the reforms were necessary repairs required to fix the economy over the long run so that everyone has access to economic opportunity, fair pay and compensation for his endeavour and labour. 

 “As we continue to reform the economy, I shall always listen to the people and will never turn my back on you. 

” In this spirit, we have negotiated in good faith and with open arms with organized labour on a new national minimum wage.

“We shall soon send an executive bill to the National Assembly to enshrine what has been agreed upon as part of our law for the next five years or less.”

In the face of labour’s call for a national strike, we did not seek to oppress or crack down on the workers as a dictatorial government would have done.

We chose the path of cooperation over conflict.

He explained that the government would continue to thrive on democratic principles and compromise as hallmarks of democracy.

These themes shall continue to animate my policies and interaction with the constituent parts of our political economy.

” I take on this vital task without fear or favour and I commit myself to this work until we have built a Nigeria where no man is oppressed.  

” In the end, our national greatness will not be achieved by travelling the easy road.

“It can only be achieved by taking the right one. 

 The words of the American President Franklin Roosevelt certainly ring true.

 “There are many ways of going forward. But only one way of standing still”!

We dare not slumber lest the good things awaiting our immediate future pass us by.

We dare not plant our feet in idle standstill in the middle of the intersection of hope and despair. 

We know the proper way forward and we shall take it!

 The initial rays of a brighter tomorrow now appear on the early horizon. An abundant future and our capacity to achieve that future lie within our reach.

Democracy and the institutions it begets offer to take us to our profound destination. 

Let us board this progressive train together. Together, let us move Nigeria forward. 

Let’s continue to keep the fire of democracy burning. Let’s keep the torch lit for generations to come.