Tinubu: Nigeria’s Economy Making Steady Progress Despite Reform Challenges
President Bola Tinubu has said Nigeria is recording significant economic progress despite the short-term hardships associated with his administration’s reform agenda, insisting that the policies are laying a strong foundation for sustainable growth.
The President made the remarks on Wednesday while receiving a delegation from Deloitte Africa, led by its Chief Executive Officer for Africa, Ruwayda Redfearn, at the Presidential Villa in Abuja.
According to a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the meeting focused on Nigeria’s economic reforms and opportunities for collaboration in driving growth and human capital development.
Tinubu acknowledged that the reforms had come with challenges but maintained that they were beginning to yield positive results.
“Yes, reforms are difficult. Some of the decisions require taking bitter medicine, but they are working well. For the economy, Nigeria is making serious foundational progress,” the President said.
He explained that the administration’s financial and fiscal reforms had strengthened revenue generation, improved the country’s financial institutions, and positioned Nigeria to become more competitive in the global economy.
The President also recalled his early career in accounting, noting his connection to Deloitte’s professional training culture.
“Deloitte has a good training programme, and I believe you will continue to reflect that,” he said.
Tinubu urged the firm to expand its investment in Nigeria by recruiting and training more young Nigerians, stressing that building human capital remains critical to the country’s long-term economic success.
Speaking during the meeting, Deloitte Africa CEO Ruwayda Redfearn reaffirmed the firm’s commitment to supporting Nigeria’s development agenda.
“We are before you to say that we want to serve. We have a local team on the ground, as well as the global firm, ready to support your administration as you lead the country,” she said.
Also speaking, Deloitte West Africa CEO Yomi Olugbenro said the administration had laid a solid foundation through its reforms but emphasized the need to ensure that ordinary Nigerians begin to feel the benefits.
“The ground has been solidly laid. The bigger work now is how to translate those reforms into real dividends of democracy for Nigerians on the street,” Olugbenro stated.
He added that Deloitte would leverage its global experience in supporting economic transformation across different countries to assist Nigeria in achieving its development goals.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, also encouraged Deloitte to invest in youth capacity development, describing it as one of the most impactful contributions the firm could make toward Nigeria’s future growth.
