The Federal Government has reassured Nigerians of brighter days ahead as it continues to implement policies aimed at revamping the countrys economy. Since taking office last year, President Bola Ahmed Tinubu has introduced major reforms designed to revive the economy and attract foreign investments. However, these changes, including the removal of the fuel subsidy and the floatation of the naira, have resulted in rising fuel prices and the highest inflation rates in 30 years. During the 30th Nigerian Economic Summit held in Abuja, Minister of Budget and Economic Planning, Atiku Bagudu, addressed the nations concerns, affirming that the current economic challenges are temporary. Bagudu stated, There is indeed light at the end of the tunnel, pointing to early signs of improvement as evidence of progress. These governance and institutional reforms have helped to improve our macro-economic performance,” Bagudu noted. “Our GDP grew from 2.98% in Q1 2024 to 3.19% in Q2 2024, inflation is trending downwards, and our external reserves are improving.” He further explained that Nigerias external trade balance improved slightly in Q2 2024, signalling the effectiveness of the administrations economic reforms. Bagudu acknowledged the difficulties citizens are facing but expressed confidence that the economy is on the right path, highlighting the importance of bold and collaborative efforts to address decades of under-investment. We need more to ensure we deliver a collaborative, competitive, and stable environment, he added. With the summits theme, “Collaborative Action for Growth, Competitiveness, and Stability,” Bagudu emphasized the government’s commitment to improving the lives of all Nigerians, in line with the administrations renewed hope agenda. Despite the current hardships, the government remains optimistic about Nigerias economic future. The post Economy: There is light at the end of the tunnel – FG tells Nigerians appeared first on Linda Ikeji Blog. Click Here to Visit Orignal Source of Article http://www.lindaikejisblog.com/2024/10/economy-there-is-light-at-the-end-of-the-tunnel-fg-tells-nigerians-2.html
Economy: There is light at the end of the tunnel – FG tells Nigerians
