UPDATED: Buhari, other past presidents refused to take tough decisions – Tinubu
"By 2023, poverty was rising, and hope was nearly gone. The country's situation was darker than ever. We had no choice but to act," Mr Tinubu said. The post UPDATED: Buhari, other past presidents refused to take tough decisions – Tinubu appeared first on Premium Times Nigeria .
Nigeria's poverty rate was on the rise in 2023, and the nation's outlook was bleak. President Bola Tinubu took the opportunity to criticize his predecessors during his Independence Day address, suggesting that their reluctance to make tough decisions had exacerbated the country's economic challenges. Tinubu highlighted the negative impact of inaction by previous leaders, arguing that it had allowed economic distortions to worsen over time.
He defended his administration's economic reforms, particularly the removal of petrol subsidies and the unification of the foreign exchange market. The president explained that the previous governments had left Nigeria with an unsustainable petrol subsidy regime and an opaque foreign exchange market. To address these issues, his administration had taken difficult measures, despite the immediate hardships they caused.
The removal of petrol subsidies and the unification of the foreign exchange market were seen as necessary steps to stabilize the economy and combat the deep-rooted distortions.
Written by urgent.news from AllAfrica's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
