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‘Economy Responding To Reforms, Better Days Ahead’, Tinubu Assures Nigerians

Tinubu made this remark while presenting the 2025 Appropriation Bill to a joint session of the 11th National Assembly in Abuja.


A man waits for costumers while selling clothes at his stall in the Balogun Market in Lagos on December 18, 2023. – Christmas and year-end celebrations are marred by the economic crisis and soaring prices in Nigeria. Poverty in the most populous country in Africa has risen in 2023, affecting 104 million people, compared to 79 million five years earlier, according to the World Bank. The prices of food items and basic goods have skyrocketed following an increasing inflation rate and devaluation of the Naira, making daily life increasingly difficult for millions of Nigerians. (Photo by Benson Ibeabuchi / AFP)

 

President Bola Tinubu, on Wednesday, said tax reforms are yielding results.

Tinubu made this remark while presenting the 2025 Appropriation Bill to a joint session of the 11th National Assembly in Abuja.

He also assured Nigerians of a better and stronger economy.

 

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He said, “I report today that our economy is responding positively to stimulus. Our objective is to further stimulate the economy through the implementation of targeted fiscal stimulus packages, public expenditure, and specific non-inflationary spending. The reforms we have instituted are beginning to yield results, with no reversals.

“Nigerians will soon experience a better and more functional economy. Global economic growth for the outgoing year was 2.0 per cent.

“For 2024, it was projected at 3.2 per cent, and contrary to predictions for our country, we have made significant progress. Our economy grew by 3.46 per cent. The improvements we achieved in the 2024 budget have laid the groundwork for the 2025 budget.”