Tinubu’s economic reforms yielding results- Minister

Minister of Women Affairs and Social Development, Imaan Sulaiman-Ibrahim. Credit: MWASD

The Minister of Women Affairs and Social Development, Imaan Sulaiman-Ibrahim, has defended President Bola Tinubu’s economic reforms, describing them as necessary decisions that are starting to yield results despite the hardship faced by Nigerians.

Sulaiman-Ibrahim said the President had chosen to confront the country’s longstanding economic problems rather than transfer the burden to future generations.

The Minister spoke on Tuesday at a press conference in Abuja ahead of the unveiling of a book on the president’s reform agenda promoted by the PBAT Door-to-Door Movement to showcase the administration’s policies and achievements over the past three years.

Sulaiman-Ibrahim said, “Tinubu assumed office on May 29, 2023, amid difficult economic circumstances that demanded decisive action to address structural weaknesses in Nigeria’s economy, revenue collection system and public finances.

“He inherited hard choices that could no longer wait. A petrol subsidy was draining the resources meant for our schools, our hospitals and our roads and our tax system weighed most heavily on the people it should have protected. He could have passed the problem to the next generation. He chose to confront it.”

She acknowledged the cost of the reforms but said the government did not take the sacrifices lightly.

“The sacrifice is not in vain. The results are beginning to show. There are improvements in external reserves, easing inflationary pressures and renewed investor confidence,” she said.

The minister named the Nigerian Education Loan Fund, the new tax laws and financial autonomy for local governments as policies meant to ensure the gains reach ordinary citizens.

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She said the tax laws protect low-income earners and small businesses, and that local government autonomy brings resources closer to communities.

Speaking on Nigeria’s rising borrowing, she said debt was not necessarily a sign of failure, pointing to the United States as a heavily indebted country that remains a major economy.

She said borrowing should be judged by the economic value of the projects it funds and called for responsible debt management.

On reports that the number of out-of-school children has risen from 14 million to 20 million, she acknowledged the seriousness of the problem.

She said the government was pursuing STEM education, technical and vocational training, early childhood education and skills acquisition under a coordinated, whole-of-government approach.

Sulaiman-Ibrahim also cautioned that the benefits of reforms may not be felt immediately, as implementation depends on funding, administrative adjustments and institutional coordination.

Tinubu is expected to attend the book unveiling as Special Guest of Honour. Alhaji Aliko Dangote will be Chief Launcher and Alhaji Abdul Samad Rabiu Co-Chief Launcher. High Chief Government Ekpemupolo (Tompolo) is listed as Chief Host, among others.