President Bola Tinubu has reiterated his resolve to fully implement the eight priority reform areas under the Renewed Hope Agenda within the next three years.
He has also reaffirmed his support for a robust public-private sector partnership to grow the economy, saying that his administration’s sustained, bold, and coordinated reforms are anchored on a “strong adherence to accountability and transparency.”
Speaking at an audience on Thursday with members of the Board and Management of the Nigeria Economic Support Group (NESG) at the presidential villa in Abuja, he emphasized that Nigeria is blessed with rich human and natural resources, in addition to deficit opportunities, which can quickly be leveraged into new prosperity.
President Tinubu called for the urgent exploitation of Nigeria’s diversity for collective gain, with an eye on new think tanks in the agricultural sector and the establishment of a commodity exchange.
A statement issued by Ajuri Ngelale, Special Adviser to the President (Media & Publicity), quoted him as saying: “We have gone through the past. I will not look back. The focus of my horse and my race remains forward-looking. We have an abundance of knowledge, untapped mineral resources, and an agricultural sector that is God-given, but we tend to shy away from taking those gigantic steps that will result in prosperity for our people.
“We are not exploiting our diversity for prosperity; we are at each other’s throats, arguing about unnecessary things, instead of thinking and doing for our people.”
The President noted that he was elected on a “no excuses” platform for renewed hope and that he will not accept excuses from anyone in his government as they set out to deliver on his agenda.
He added: “Looking backward is retrogressive for any reformer. Looking forward can give you the leaps that will propel you in the right direction.
“We need think tanks in the agricultural sector. I don’t see why Nigeria will be so blessed with good soil and not have a commodity exchange. I don’t see why we have not been able to interrogate our real estate sector and propel it.
“I don’t see why we have not used consumer credit to build the purchasing power of our people and the capacity of our very own manufacturing sector.”
While commending the NESG for believing in the reforms of his administration, the President said the “bitter pill” must be administered to an ailing nation and economy to build a better future for the country, adding: “I am here and I believe we can do it together. No single person succeeds alone. The world is dynamic.
“We are confronted with climate change and other challenges, but somewhere in the eye of the storm, there is a quiet and peaceful corner for those who can toil well. With patience and determination, we will succeed.”
The Chairman of NESG, Mr. Olaniyi Yusuf, welcomed the economic reforms announced by the Tinubu administration, specifically with respect to fuel subsidy removal, foreign exchange rate harmonization, food security and palliatives to sub-national governments.
He pledged that the NESG would work with the newly inaugurated cabinet to achieve the administration’s eight-point agenda.
“Your track record in the effective implementation of bold economic reforms as the Governor of Lagos leaves those of us in the private sector without doubt that you will achieve much greater feats as our nation’s president,” the NESG Chairman confided.
He formally requested the President to declare the NESG Summit in October, as well as to direct Heads of Ministries, Departments, and Agencies (MDAs) to partner with them and participate fully at the Summit as part of efforts to ramp up local and foreign direct investment in Nigeria.
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