President Bola Tinubu has defended his administration’s economic policies, insisting that Nigeria is working to overcome decades of underperformance and build a stronger foundation for jobs, investment and shared prosperity.
Tinubu made the remarks in a speech delivered by Vice-President Kashim Shettima at the opening of the 32nd Nigerian Economic Summit in Abuja on Monday, October 26.
According to the President, the government’s reforms are designed to remove structural barriers that have prevented Nigeria from fully benefiting from its human and natural resources. He acknowledged that the administration began with difficult decisions but argued that sustainable economic growth requires a reset rather than shortcuts.
The government says its priorities include improving electricity supply, strengthening agriculture, expanding manufacturing, encouraging investment and developing the solid minerals sector beyond the export of raw materials.
Tinubu also stressed the need to create conditions that allow private businesses to expand and generate productive employment, particularly for young Nigerians seeking opportunities.
However, the administration’s defence of its policies comes amid continued public concern over the cost of living, fuel prices and the pressure on household budgets. These concerns remain central to the political debate as the 2027 elections approach.
The government maintains that its reforms are laying the groundwork for long-term growth, while critics continue to demand faster and more visible improvements in everyday life.
For Nigerians, the key question is how quickly the promised gains will translate into better incomes, affordable essentials, reliable electricity and more jobs.
As the election season gathers pace, economic performance is likely to remain one of the biggest issues shaping public opinion and political competition.
