President Bola Tinubu has pledged that his administration will deepen ongoing economic reforms if re-elected, stressing that the tough decisions already taken were beginning to stabilise Nigeria’s economy and lay the foundation for long-term growth.
President Tinubu, who made the pledge during an interview session at the just-concluded Africa CEO Forum in Kigali, Rwanda, said his government remained committed to difficult but necessary reforms aimed at resetting the economy and improving governance.
Fielding question on what his focus would be if re-elected, the President responded: “Do more work. More challenges are there. The world won’t wait for anybody. You have to continue to reset and rethink, challenge our intellectual curiosity as a government.”
According to him, the guiding philosophy of his administration was built around decisive leadership and the willingness to act in the interest of citizens, even when such decisions were unpopular.
“The hallmark of a transformative leader is the ability to take decisions, do what you’ll do, at the time it has to be done, on behalf of the people,” Tinubu stated.
The President strongly defended the removal of fuel subsidy and the unification of the foreign exchange market, describing both measures as painful but unavoidable steps needed to prevent economic collapse.
He stated that the old subsidy regime encouraged corruption, smuggling and waste while placing enormous pressure on public finances.
“It is a fake life to think you can, in a global economy, continue the subsidy that is wasteful. It’s an encouragement to falsification of papers, smuggling, and that is a very critical situation for the country,” he said.
Tinubu recalled that before the reforms, many states struggled to pay salaries and meet basic obligations.
“Of the 36 states, 27 of them were unable to pay salaries. Where is the money? You are oil-producing, you are earning, you are given fuel, yet you have no refinery that is functional. It is not possible to continue that trend,” he said.
“It is difficult, it is painful, but it is just like the human reproduction process. A woman carries a pregnancy, endures the pain of labour, and smiles when she sees a live child,” he stated.
The President also defended taxation as an essential instrument for development, arguing that citizens who demand quality infrastructure and public services must be prepared to contribute through taxes.
“Nobody wants to pay taxes ordinarily. Every human being expects development, but the question they don’t answer is: how do you pay for it?” he queried.
Tinubu maintained that recent reforms were already yielding results, saying the economy had become more stable and predictable.
“Today, there is a very bright light at the end of the tunnel; the economy is stable, the naira is stable and predictable. Planners can prepare reasonable budgets and people can plan their lives better,” he said.
He disclosed that the administration was implementing direct cash transfers to vulnerable households while also supporting indigent students with grants and allowances.
“For students who ordinarily would stay out of school because their parents cannot afford fees, they are now in school. I’m even giving them allowances and upkeep,” he added.
On industrial policy, Tinubu said his administration would continue supporting businesses capable of creating jobs and boosting local production.
He cited the Dangote Refinery and BUA Group as examples of indigenous enterprises deserving government backing.
“What should my government do? Support him, encourage him,” the President said in reference to the Dangote Refinery.
He explained that the government approved the sale of crude oil to the refinery in naira to ease operational difficulties and reduce pressure on foreign exchange demand.
Tinubu also defended the ongoing Lagos-Calabar Coastal Highway project, describing it as part of a broader agenda to strengthen national integration and unlock tourism and investment opportunities.
“My philosophy is Nigeria first,” he declared, adding that locally produced cement and steel were deliberately prioritised for the project to stimulate domestic industries.
On national unity, the President urged Nigerians to embrace diversity as a source of strength rather than division this country is ours. We must build it together,” he said.
Speaking on regional security and diplomacy, Tinubu stressed the importance of collaboration with neighbouring countries and global partners, insisting Nigeria remained strategically important within West Africa and across the continent.
“In ECOWAS, Nigeria is a big brother; in Africa, we are the fat lady. We must sing the tune and sing the right tune for others to pay attention to,” he stated.
