‘There is no shortcut to economic growth’ - Tinubu defends tough reforms

President Bola Tinubu has defended his administration’s tough economic reforms, saying Nigeria must make difficult decisions to overcome years of underperformance and improve citizens’ livelihoods.

Tinubu, who was represented by Vice President Kashim Shettima, made the remarks on Monday at the opening of the 32nd Nigerian Economic Summit in Abuja.

The president said his administration had begun with a difficult economic reset because growth could not be achieved without tough choices.

“There is no shortcut to economic growth. This is why we began with a difficult reset,” Tinubu said.

He said the reforms were aimed at changing the country’s economic fortunes and improving the lives of young jobseekers, farmers, manufacturers, entrepreneurs and innovators.

“For us, rescuing the economy means rescuing livelihoods and transforming the fortunes of young jobseekers, farmers, manufacturers, entrepreneurs and innovators,” he added.