Bola Ahmed Tinubu, the President of Nigeria, has revealed his economic plans for the country. In his speech on May 29, 2023, President Tinubu expressed his ambitions for the Nigerian economy.
“Our aim is to achieve higher GDP growth and make significant strides in reducing unemployment,” stated President Tinubu.
He further elaborated on the strategies that will be employed to accomplish these goals:
“Firstly, we will implement budgetary reforms that stimulate the economy without causing inflation.
“Secondly, our industrial policy will employ a wide range of fiscal measures to promote domestic manufacturing and reduce dependence on imports.
“Thirdly, we will enhance accessibility and affordability of electricity for businesses and households. This will involve a substantial increase in power generation, as well as improvements in transmission and distribution networks. We will also encourage states to develop local energy sources.
“To our investors, both local and foreign, I have a message: our government will carefully review all complaints regarding multiple taxation and any hindrances to investment. We are committed to ensuring that investors and foreign businesses can repatriate their hard-earned dividends and profits back to their home countries.”