Oduwole says reforms are improving Nigeria’s economy
By the AFREEQUE newsroom, based on Punch
Nigerian Industry, Trade and Investment Minister Jumoke Oduwole says Bola Tinubu’s economic reforms are beginning to produce results despite the high cost of living. She cites, in particular, lower inflation and greater exchange-rate stability, according to Punch.
Nigerian Minister of Industry, Trade and Investment Jumoke Oduwole says President Bola Tinubu’s economic reforms are beginning to produce results despite the continued high cost of living. She cited, in particular, lower inflation and greater stability in the foreign exchange market during an appearance on Channels Television on Wednesday, reported by Punch.
Oduwole said the removal of the fuel subsidy in 2023 was necessary to correct structural imbalances accumulated over several decades. She acknowledged, however, that Nigerians are still facing economic difficulties and that the cost of living remains high.
The minister said four of the eight pillars of Bola Tinubu’s Renewed Hope Agenda, the government programme, directly concern the economy. She said the president had fulfilled part of his 2023 election promise to stabilise the economy and also highlighted investments made in infrastructure.
Oduwole thus defended Bola Tinubu’s economic policy following several recent statements on the results of the reforms. On 10 November, the Nigerian government notably said that 1.6 million students had benefited from student loans.
