Presidency Restates Commitment to Improved Economy, Social Welfare

Senior Special Assistant to the President on Citizenship and Leadership, Ms. Rinsola Abiola.


…calls for citizens’ participation in national development

The Senior Special Assistant to the President on Citizenship and Leadership, Ms. Rinsola Abiola, has said that the Tinubu-led administration is committed to economic growth and social welfare.


Abiola gave this assurance at the citizens townhall hosted by the Savannah Centre for Diplomacy, Democracy, and Development (SCDDD) in Abuja on Tuesday.


Speaking on the theme of the townhall meeting, “Improving the State of the Nation in the face of Economic Hardship Versus the Call for Patriotic Citizenship”, Abiola acknowledged challenges such as the increased cost of living occasioned by the recent removal of petrol subsidy.

“There is no denying the fact that our nation presently finds itself navigating through stormy economic waters, shaped by a confluence of both local and global events. We recently had to confront the monster that is the oil subsidy, which had grown in size and influence for decades and threatened the development of our nation.

“We stood the risk of becoming a nation that exists merely to pay oil subsidies, without funds to do anything else, including infrastructure development, make needed investments in healthcare or even pay the basic salaries of our civil service.

“It was thus important to ensure that Nigeria’s resources truly work for the Nigerian people. Returning the monster into the bottle has come with initial difficulties, including a higher cost of living.

“Similarly, currency reforms, while indispensable for ensuring sustainable growth and improving investor confidence, have not been without their share of complexities.”

She highlighted the steps taken by the government which demonstrate a commitment to prioritising the welfare of Nigerians, such as initiatives under the Presidential Palliative Program, which are targeted at the most vulnerable in society.

“These notwithstanding, our relatively young administration has demonstrated a commitment to alleviating the burdens on our citizens. Initiatives under the Presidential Palliative Program such as the Conditional Grant Scheme, which aims to provide targeted financial support to one million nano-businesses across all 774 Local Government Areas, stand as a testament to our dedication to social welfare.

“The subsidized conversion to Compressed Natural Gas (CNG) and the provision of CNG buses for affordable transportation, SME cash and tax support, and additional social welfare programs for the most economically marginalized are tangible expressions of the administration’s determination to ease the pain felt by the nation and build a more equitable and prosperous future.”

She also highlighted other developments such as the President’s successful engagements at global fora aimed at securing investment opportunities from foreign stakeholders and the current revision of Nigeria’s economic outlook.

“It is also important to note that the necessary reforms, carried out to tackle complex economic challenges that have their roots in decisions made many years ago, do not just come with pain. The recent positive revision of Nigeria’s outlook by Moody’s, a reputable international ratings agency, offers a glimmer of hope.

“This revision, from stable to positive, acknowledges the administration’s serious commitment to reasonable economic reform and competent management of financial matters. It signifies a recognition of the strides we are making to transform the economic landscape, inviting renewed confidence from international stakeholders.

This was evident with President Bola Ahmed Tinubu’s successful engagements at the G-20 summit in India and, more recently, at the COP 28 Climate Summit in Dubai, where he persuaded investors to commit millions of dollars to various sectors of our economy.”

She also called for citizens’ support for economic reforms and nation building, and urged Nigerians to not partake in activities which would harm other citizens or jeopardise the collective growth of the nation.

“The progress notwithstanding, we must not lose sight of the proven fact that surmounting economic challenges requires more than policy reforms alone. The success of our administration is intricately tied to the patriotic support of our citizens.

“In times of transformation and structural adjustments, there is often a tendency for citizens to resist or pressure the government into reversing beneficial policies due to the initial discomfort they may cause.

“However, in our collective interest, it is imperative that we resist this temptation and maintain a long-term perspective. The decisions made today are crucial for laying the foundations of sustainable growth and development. We must collectively resist actions that, while providing quick economic gains at the individual level, jeopardize the collective growth of our nation.

“Pipeline vandalization, for example, remains a significant challenge that hampers our ability to fully reap the profits from the oil sector.

“The issue of counterfeit and adulterated goods has also been in the news lately; while those who produce these harmful products might make a quick profit from doing so, they jeopardise the health and wellbeing of millions of other citizens, and the business interests of legitimate businessmen and women by reducing consumer confidence in their products.”

She further urged citizens to support local industries through patronage and investment, and called on stakeholders such as religious and community leaders to promote patriotic values among citizens.


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