President Bola Tinubu says Nigeria’s economy is making steady progress despite the challenges associated with the reforms introduced by his administration over the past three years.
The president made the remarks on Wednesday, July 15, 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 special adviser to the president on information and strategy, Bayo Onanuga, Tinubu said the reforms were beginning to yield results by strengthening the country’s fiscal and revenue systems and laying a solid foundation for long-term economic growth.
“Yes, reforms are difficult. It has not been a McDonald’s customer relationship but a harvester of good things, if implemented well, and that is what we are about,” the president said.
“The reforms on revenue will continue to stimulate growth. And the effect of the reform? Yes, some issues are difficult, taking the bitter medicine, but it is working well.
“For the economy, Nigeria is making serious foundational progress.”
Tinubu said the reforms had repositioned Nigeria’s financial institutions and improved the country’s competitiveness in the global economy.
Reflecting on his professional background, the president recalled his early years in accountancy, describing Deloitte as a firm with a strong culture of professional development.
He urged the company to expand its investment in Nigeria by recruiting and training more young people to help build the country’s future workforce.
The meeting was attended by the minister of finance and coordinating minister of the economy, Wale Edun, chairman of the presidential committee on fiscal policy and tax reforms, Taiwo Oyedele, and chairman of the Nigerian revenue service, Zacch Adedeji.
Speaking during the meeting, Redfearn said Deloitte was ready to support the Tinubu administration with its local and global expertise.
“We are before you to say that we want to serve. We have a local team on the ground that is ready, as well as the global firm, to support you and support your administration as you lead the country,” she said.
Also speaking, Deloitte West Africa CEO, Yomi Olugbenro, said the reforms had laid a solid foundation for economic growth but stressed the need to ensure their benefits reached ordinary Nigerians.
He added that Deloitte would leverage its global experience in supporting economic reforms to assist Nigeria in achieving its development objectives.
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