Jumoke Oduwole, Minister of Industry, Trade and Investment, says Nigerians are beginning to experience the benefits of President Bola Tinubu’s economic reforms.
Oduwole spoke on Wednesday on Channels Television, where she
defended the administration’s policies, adding that “prosperity is already
flowing” in the country.
She said the government had to address longstanding
structural problems in the economy before introducing new policies that could
deliver growth.
The minister said Tinubu had warned Nigerians from the
beginning that his economic reforms would be painful.
“Where we’re coming from is like four decades, and we had to
fix that foundation. There is no way you can plant new seeds in bad soil and
expect anything to germinate,” she said.
“And the President said it from day one, ‘I have to do these
reforms. It’s going to be painful. Stay with me.’ But Nigerians don’t want to
hear the statistics.”
She listed the removal of petrol subsidy, efforts to reduce
inflation, and foreign exchange stabilisation among the administration’s
achievements.
“But Nigerians, now, is the cost of living high? Are people
in pain? Yes, we are also Nigerians, and we know that this is the time you have
to just stay through, and it’s already coming down. Prosperity is already
flowing,” she said.
“I would say President Tinubu has had the courage; he has
the understanding to take on economic reforms, and if you look at what he
promised — his number one promise in 2023 was to stabilise this economy.
“Four out of the eight pillars of the Renewed Hope Agenda
are centred on the Nigerian economy. Did he deliver? Even if it is 50 percent,
it’s a pass mark, not to talk of what he did with infrastructure.
“Yes, we have a lot more to do. If you hear how he spoke to
us at FEC concerning power. If you hear how he actually charges all of us, like
we don’t even have the luxury of not delivering on the assignment that he has
given us to do.”
Asked about the government’s promise in 2023 to create one
million information and communications technology (ICT) jobs within 24 months
and significantly reduce youth unemployment, Oduwole said the ministry of
communications and digital economy has provided a significant number of jobs in
the sector.
The minister also highlighted other achievements of the
administration, including the Nigerian Education Loan Fund (NELFUND),
infrastructure development and consumer credit programmes.
She said the administration has encouraged entrepreneurs to
export their products and services and has promoted local production.
Oduwole said the government’s focus on encouraging Nigerians
to produce what they consume would support economic growth.
“Mr President has done what he knows and believes is right for Nigeria. And I believe, based on evidence — empirical — that posterity and history will be extremely kind to President Bola Ahmed Tinubu,” she said.
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