President Bola Tinubu has indicated plans to push forward with his administration’s economic reforms as discussions around a possible second term continue, insisting that the tough measures already implemented are gradually restoring stability to Nigeria’s economy and setting the stage for long-term growth.
Speaking during an interview session at the recently concluded Africa CEO Forum in Kigali, Rwanda, Tinubu said his government would remain focused on reforms designed to reset the economy, strengthen governance, and improve long-term national development.
When asked what his priority would be if re-elected, the President responded: “Do more work. More challenges are there. The world won’t wait for anybody. You have to continue to reset and rethink, challenge our intellectual curiosity as a government.”
He explained that his administration’s philosophy is rooted in decisive leadership and taking difficult decisions at the right time, even when such actions may be unpopular among citizens.
“The hallmark of a transformative leader is the ability to take decisions, do what you will do, at the time it has to be done, on behalf of the people,” Tinubu stated.
The President strongly defended the removal of fuel subsidy and the unification of the foreign exchange market, describing both policies as painful but necessary measures to prevent deeper economic challenges.
According to him, the former subsidy system encouraged corruption, smuggling, and waste while placing heavy pressure on government finances.
“It is a fake life to think you can, in a global economy, continue the subsidy that is wasteful. It’s an encouragement to falsification of papers, smuggling, and that is a very critical situation for the country,” he said.
Tinubu recalled that before the reforms were introduced, many states were unable to meet salary obligations or fund basic governance responsibilities.
“Of the 36 states, 27 of them were unable to pay salaries. Where is the money? You are oil-producing, you are earning, you are given fuel, yet you have no refinery that is functional. It is not possible to continue that trend,” he said.
While acknowledging that the reforms have created hardship for many Nigerians, the President compared the process to labour pains before childbirth, insisting that the long-term benefits would justify the temporary discomfort.
“It is difficult; it is painful, but it is just like the human reproduction process. A woman carries a pregnancy, endures the pain of labour, and smiles when she sees a live child,” he stated.
Tinubu also defended taxation as a necessary tool for national development, arguing that citizens who demand improved infrastructure and better public services must also be willing to contribute through taxes.
“Nobody wants to pay taxes ordinarily. Every human being expects development, but the question they don’t answer is: How do you pay for it?”
He maintained that the recent reforms were already producing positive outcomes, noting that the economy had become more stable and predictable for planning and investment.
“Today, there is a very bright light at the end of the tunnel; the economy is stable, the naira is stable and predictable. Planners can prepare reasonable budgets and people can plan their lives better,” he said.
Tinubu Outlines Social Support, Industry and Unity Plans
The President further revealed that his administration was implementing direct cash transfers for vulnerable households while supporting indigent students with grants, allowances, and school funding.
“For students who ordinarily would stay out of school because their parents cannot afford fees, they are now in school. I’m even giving them allowances and upkeep,” he added.
On industrial development, Tinubu said the government would continue to support businesses capable of creating jobs and strengthening local production, citing the Dangote Refinery and BUA Group as examples of indigenous enterprises deserving support.
“What should my government do? Support him, encourage him,” the President said in reference to the Dangote Refinery.
He explained that the decision to approve the sale of crude oil to the refinery in naira was intended to reduce operational difficulties and ease pressure on foreign exchange demand.
Tinubu also defended the ongoing Lagos-Calabar Coastal Highway project, describing it as part of a broader national strategy to improve connectivity, strengthen integration, and unlock tourism and investment opportunities.
“My philosophy is Nigeria first,” he declared, adding that the use of locally produced cement and steel for the project was a deliberate effort to stimulate domestic industries.
On national unity, the President urged Nigerians to see diversity as a source of strength rather than division, stressing the need for collective responsibility in nation-building.
“This country is ours. We must build it together,” he said.
Speaking on regional diplomacy and security, Tinubu emphasised the importance of strong partnerships with neighbouring countries and international allies, insisting that Nigeria remains strategically important within West Africa and across the African continent.
“In ECOWAS, Nigeria is a big brother; in Africa, we are the fat lady. We must sing the tune and sing the right tune for others to pay attention to,” he stated.
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