Minister: Economic recovery does not happen overnight

Nigerian Minister of Women Affairs and Social Development, Imaan Sulaiman-Ibrahim, has praised President Bola Tinubu's economic reforms, stating they are necessary decisions that are beginning to produce results. Despite the hardships faced by Nigerians, Sulaiman-Ibrahim defended Tinubu's choice to confront the country's economic challenges instead of passing them on to future generations.

The minister highlighted the President's decisive action to tackle structural weaknesses in Nigeria's economy, revenue collection system, and public finances upon assuming office in May 2023.

Sulaiman-Ibrahim acknowledged the sacrifices made during the reforms, emphasizing that the improvements are starting to show. She mentioned enhancements in external reserves, easing of inflationary pressures, and renewed investor confidence as positive outcomes. The minister also pointed to the Nigerian Education Loan Fund, new tax laws, and financial autonomy for local governments as policies aimed at ensuring the gains reach ordinary citizens.

Regarding the tax laws, Sulaiman-Ibrahim stated that they protect low-income earners and small businesses while bringing resources closer to communities. She also addressed concerns about Nigeria's rising borrowing, arguing that it is not always a sign of failure. She cited the United States as an example of a heavily indebted country that remains a major economy, emphasizing that borrowing should be judged by the economic value of the projects it funds.

Concerning the issue of out-of-school children, Sulaiman-Ibrahim admitted to the seriousness of the problem and mentioned that the government is pursuing STEM education, technical and vocational training, early childhood education, and skills acquisition under a coordinated, whole-of-government approach. Tinubu is expected to attend the unveiling of a book showcasing the administration's policies and achievements over the past three years as the Special Guest of Honor.