Tinubu taking measures against reform challenges, says presidency

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The presidency says President Bola Tinubu is taking measures to address the challenges brought about by the bold reforms introduced by his administration in all sectors of the economy. The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement on Saturday in Abuja.

Noting that more of such measures would be taken in 2024, he said Tinubu had never shied away from acknowledging the temporary pains triggered by the reforms, stressing that proactive measures would continue to be taken. “Many of these measures are already being taken, and in the New Year, we expect the silver linings, which are at present understated, to blossom into rays of sunshine to be experienced by all Nigerians.

“The removal of fuel subsidy and the move to merge foreign exchange rates, two headline reforms introduced by the Tinubu administration since late May. “It’s caused by problems such as high fuel prices and the depreciation of the naira, two monstrosities that combined to cause a general spike in costs of services and goods,” Onanuga said.

Making reference to the latest report by the National Bureau of Statistics (NBS) that put Nigeria’s inflation at 26.7 per cent in September, Onanuga said food inflation remained untamed.

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