Tinubu Says Nigeria’s Economy Making Progress Despite Challenges of Reforms

President Bola Tinubu has said Nigeria’s economy is making steady progress despite the hardships caused by his administration’s economic reforms over the past three years.

The President made the remarks on Wednesday while receiving a delegation from Deloitte Africa, led by its Chief Executive Officer for Africa, Ruwayda Redfearn, at the State House in Abuja.

According to a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu said the reforms, though difficult, were beginning to deliver positive results.

“Reforms are never easy, but they are necessary. Some of the decisions we have taken are like taking bitter medicine, but they are working. Nigeria is making serious foundational progress,” the President said.

Tinubu explained that the reforms had strengthened the country’s revenue system, improved fiscal management, repositioned financial institutions, and made Nigeria more competitive in the global economy.

The President also reflected on his early career in accounting, praising Deloitte for its strong training programmes and encouraging the firm to invest more in developing young Nigerian professionals.

“I believe Deloitte should continue to train and recruit more young Nigerians. Investing in our youth is investing in Nigeria’s future,” he said.

Redfearn reaffirmed Deloitte’s commitment to supporting the Tinubu administration, saying the company was ready to deploy both its Nigerian and global teams to assist the country’s development efforts.

“We are here because we want to serve. Our local team, together with our global network, is ready to support your administration as you lead Nigeria,” she said.

Deloitte West Africa CEO, Yomi Olugbenro, also praised the administration’s reforms, saying they had laid a solid foundation for economic growth. However, he stressed that the focus should now be on ensuring that ordinary Nigerians benefit from the reforms.

“The foundation has been laid. The next step is to translate these reforms into real benefits for Nigerians by delivering the dividends of democracy,” Olugbenro said.

He added that Deloitte would leverage its global experience in supporting economic transformation in other countries to help Nigeria achieve its development goals.

Also speaking at the meeting, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, alongside Chairman of the Nigerian Revenue Service, Zacch Adedeji, highlighted the impact of the administration’s reforms and called on Deloitte to support youth capacity development in Nigeria.

The meeting focused on strengthening collaboration between the Federal Government and Deloitte to sustain economic reforms and promote long-term growth.

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