President Bola Tinubu has said the nation’s economy is in dire need of reforms as it has suffered decades of imbalance as a result of over-reliance on revenues from the exploitation of oil.
The president who stated this in his Democracy Day address on Wednesday, however, said his administration was committed to correcting the imbalance.
Tinubu said it is in view of this that his administration has initiated reforms which are intended to create a stronger, better foundation for future growth.
While acknowledging that the reforms have caused hardship, he stated that they are necessary repairs required to fix the economy over the long run so that everyone has access to economic opportunity, fair pay and compensation for his endeavour and labour.
Tinubu promised to always listen to the people and not turn his back on them as he continues with the reforms.
“The initial rays of a brighter tomorrow now appear on the early horizon. An abundant future and our capacity to achieve that future lie within our reach. Democracy and the institutions it begets offer to take us to our profound destination,” the president added.
