President Bola Ahmed Tinubu has called on Nigerians to be patient with his administration, as his economic reforms have attracted $30 billion in foreign direct investment within a year. Speaking during Nigeria’s 64th Independence Day broadcast, Tinubu emphasized that these reforms are essential for creating a more sustainable economy.
He stressed the importance of addressing fiscal misalignments to avoid further economic downturns. “If we do not correct the fiscal misalignments that led to the current economic downturn, our country will face an uncertain future and the peril of unimaginable consequences,” Tinubu warned.
The president reaffirmed his administration’s commitment to promoting free enterprise and upholding transparent regulatory processes, which have guided key investment transactions. He highlighted the government’s efforts in the upstream petroleum sector, particularly the ExxonMobil-Seplat deal, which is set to receive final approval in the coming days. This decision follows the guidelines of the Petroleum Industry Act (PIA) and was overseen by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Tinubu assured that these measures are geared towards transforming the nation’s economy for the benefit of its citizens.
