By Jemimah Wellington, JKNewsMedia Reporter
NIGERIA’s PRESIDENT Bola Tinubu has said he is driving significant economic reforms aimed at transitioning the country from a consumption-based economy to a production-oriented one.
Speaking through Minister of Information and National Orientation, Mohammed Idris, at the opening of the 20th All Nigeria Editors Conference in Yenagoa, Bayelsa State, Tinubu emphasized his vision for a prosperous Nigeria powered by diversification and sustainable growth.
The President noted that despite oil’s continued importance, his administration is heavily investing in other sectors, such as gas, with initiatives like the Presidential Initiative on Compressed Natural Gas (CNG).
This initiative, he said, is expected to reduce transportation costs by 60% while contributing to a cleaner environment and has already attracted nearly $200 million in private-sector investments.
Tinubu also celebrated Nigeria’s economic rebound, citing improved fiscal health with the debt-to-revenue ratio dropping from 100% to about 65%.
Revenue growth across all government tiers has enabled increased investment in social services, infrastructure, and social security.
The President called for cooperation between government and media, recognizing the media’s role in holding officials accountable and strengthening democracy.
He said his administration’s reforms aim to boost Nigeria’s economic resilience, addressing major challenges like fuel subsidies and foreign exchange policies, which hindered potential growth.
In his address, President Tinubu also outlined key initiatives including the Nigerian Education Loan Fund, Consumer Credit Scheme, and the Renewed Hope Housing Initiative, all designed to provide direct economic relief to Nigerians.
He reiterated his commitment to fostering a nation where no citizen is left behind in terms of opportunity or prosperity.
