Reforms weakened Nigerians’ purchasing power but we’ll prioritise social investment programmes

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While acknowledging that the reforms had weakened Nigerians' purchasing power, President Tinubu said his administration will continue to provide social safety nets to cushion the unintended consequences.

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Congratulating the IMF Chief on her election for a second term in office, Mr Tinubu appreciated her support in implementing the reforms, calling for more institutional backing for stability and sustainable growth. He also emphasised the critical need for educational access. Mr Tinubu stressed that substantial resources must be invested to stimulate the much-needed infrastructural development in the country. The president further noted that Nigeria is working on tax reforms to stimulate the economy further.Support journalism driven by facts, created by Nigerians for Nigerians. Our thorough, researched reporting relies on the support of readers like you.

The managing director expressed the Fund’s readiness to offer technical support for the budgeting process, adding that it will assist Nigeria in achieving the best possible results from loans. At Premium Times, we firmly believe in the importance of high-quality journalism. Recognizing that not everyone can afford costly news subscriptions, we are dedicated to delivering meticulously researched, fact-checked news that remains freely accessible to all.

 

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