The Minister of Information and National Orientation, Mohammed Idris, has said President Bola Tinubu inherited significant economic challenges when he assumed office, including fiscal pressures, declining revenues, exchange rate distortions and long-standing structural weaknesses that had limited growth.
Idris made the remarks on Friday in Umuahia during his opening address at a press briefing on the South-East Security Summit and the achievements of the Tinubu administration.
The summit was organised by the Office of the Senior Special Assistant to the President on Community Engagement (South-East) in collaboration with the Federal Ministry of Defence and hosted by the Abia State Government.Speaking on the economy, the minister said:
“When President Tinubu assumed office, the administration inherited significant economic challenges, including fiscal pressures, declining revenues, exchange rate distortions and structural weaknesses that had constrained growth for many years.“
Under President Tinubu’s leadership, Nigeria is undergoing major reforms aimed at rebuilding the foundations of a stronger economy, improving infrastructure, expanding opportunities and strengthening national competitiveness.”
He added that the President took difficult decisions to address these issues and put the country on a path of sustainable recovery.
The removal of the fuel subsidy and reforms in the foreign exchange market formed part of broader efforts to create a more transparent, productive and investment-friendly economy.
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