President tells NEC conference reforms are laying foundation for inclusive growth despite ongoing economic challenges….
President Bola Tinubu has said his administration’s economic reforms are beginning to produce measurable results, pointing to improved macroeconomic stability and increased federal allocations to states and local governments.
Tinubu made the remarks on Monday while declaring open the two-day National Economic Council conference in Abuja, themed “Delivering Inclusive Growth and Sustainable Development: The Renewed Hope National Development Plan.”
Addressing government officials, policymakers and other stakeholders, the president acknowledged that Nigeria continues to face macroeconomic imbalances, infrastructure gaps, unemployment, poverty, climate-related risks and limited fiscal space. However, he noted that the resilience and creativity of Nigerians remain a major national asset.
“Since the inception of this administration, we have undertaken bold and necessary reforms to stabilise the economy, restore confidence and lay the foundation for long-term growth,” Tinubu said.
“These reforms are instruments for delivering prosperity, dignity and opportunity to all Nigerians. We have recorded notable achievements that reflect our commitment to cooperative federalism and inclusive development.”
The president stated that monetary policy and fiscal reforms implemented by his administration are beginning to yield positive outcomes, adding that the progress has also attracted international recognition.
He identified improved revenue distribution as one of the most significant gains, noting that states and local governments are now receiving higher and more predictable federal allocations.
“States and local governments now receive increased and more predictable federal allocations, improving their capacity to pay salaries, invest in infrastructure and deliver social services,” he said.
Tinubu added that his administration has taken steps to strengthen macroeconomic stability through improved revenue generation, enhanced public financial management and better fiscal coordination across government levels.
He said infrastructure development remains a central priority, with ongoing investments across transportation, electricity, digital connectivity, housing and irrigation, describing infrastructure as a key driver of inclusive economic growth.
The president also highlighted expanded social investment and human capital development programmes targeting vulnerable households, young people, women and small businesses.
According to him, the combined effect of these measures reflects the administration’s commitment to cooperative federalism, inclusive development and long-term economic sustainability.
Tinubu maintained that the reforms, though challenging, were necessary to reposition Nigeria’s economy and secure sustainable growth in the years ahead.
