Strategic Decision to Prevent Economic Collapse
President Bola Tinubu reiterated that removing the oil subsidy was essential to saving Nigeria’s economy. Speaking at the combined 34th and 35th convocation ceremonies of the Federal University of Technology Akure (FUTA), he explained that the tough decision aimed to prevent the country’s financial collapse. He described the subsidy as unsustainable and pointed out how it harmed poor Nigerians instead of offering relief.
Positive Outcomes from Policy Implementation
Tinubu emphasised that the policy has begun to yield positive results, stating, “The macro-economy is improving, and the micro-economy is gradually taking shape.” He noted the transition from a consumption-driven to a production-driven economy, expressing optimism about better days ahead for Nigerians. He assured citizens that their sacrifices would lead to lasting benefits, emphasising that “The Renewed Hope Agenda is on track.”
Appeal for Patriotism Amid Challenges
Acknowledging the hardships caused by the subsidy removal, Tinubu urged Nigerians to remain patient and patriotic. “After the rain comes sunshine,” he said, reaffirming his commitment to economic reforms that would ultimately improve living standards. He highlighted the administration’s focus on unifying exchange rates and prioritising policies to create a sustainable economy.
Criticism of Brain Drain and Emigration
Tinubu expressed concern over the exodus of skilled Nigerians to foreign countries, describing it as counterproductive to national development. “Our intellectuals and experts are migrating overseas when their services are most needed at home,” he lamented. He encouraged Nigerian youths to channel their energy toward rebuilding the nation rather than seeking opportunities abroad.
Renewed Hope for the Future
The president urged graduates to contribute to national development by embracing their roles as agents of change. Tinubu highlighted the need to restore Nigeria’s glory through collective effort and innovation. “We are not Nigerians by accident,” he stated, calling on citizens to utilise their talents for the betterment of the country.
Focus on Economic Recovery
Tinubu reaffirmed his administration’s commitment to addressing economic challenges and delivering on promises of improved governance. He concluded by encouraging Nigerians to support ongoing reforms, promising that brighter days are on the horizon. “The results of our policies are already yielding the expected outcomes,” he assured.
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