Tinubu says Economic Reforms Yielding Positive Results

President Bola Tinubu says his administration’s economic reforms are beginning to deliver positive results, citing improved macroeconomic stability and increased federal allocations to states and local governments.

Tinubu spoke while declaring open the two-day National Economic Council (NEC) conference held in Abuja on Monday.

The conference is themed ‘Delivering Inclusive Growth and Sustainable Development: The Renewed Hope National Development Plan’.

Addressing stakeholders at the conference on Monday, the president said Nigeria continues to grapple with macroeconomic imbalances, infrastructure deficits, unemployment, poverty, climate vulnerabilities, and limited fiscal space, but noted that the resilience and creativity of Nigerians remain a key strength.

“Since the inception of this administration, we have undertaken bold and necessary reforms to stabilise the economy, restore confidence and lay the foundation for long-term growth,” Tinubu said.

“These reforms are instruments for delivering prosperity, dignity and opportunity to all Nigerians.

“We have recorded notable achievements that reflect our commitment to cooperative federalism and inclusive development.”

Tinubu said monetary policy reforms introduced under his administration have started to yield positive outcomes, adding that the progress has been recognised internationally.

He said one of the most significant achievements so far is the improvement in federal revenue distribution, noting that states and local governments now receive higher and more predictable allocations.

“States and local governments now receive increase and more predictable federal allocations, improving their capacity to pay salaries, invest in infrastructure and deliver social services,” he said.

Tinubu also said the administration has taken steps to strengthen macroeconomic stability through improved revenue performance, stronger public financial management, and enhanced fiscal coordination.

He added that infrastructure development has been prioritised across key sectors, including transportation, power, digital connectivity, housing, and irrigation, describing infrastructure as a catalyst for inclusive economic growth.

The president said his government has also expanded social investment and human capital programmes targeted at vulnerable households, youths, women, and small businesses.

He added that the combined impact of the measures reflects his administration’s commitment to cooperative federalism and inclusive national development.

Tinubu also said the reforms were necessary to reposition the economy and ensure sustainable growth in the long term.