President Bola Tinubu, in his New Year’s address to Nigerians, vowed to fight for a thriving investment climate and a globally competitive economy. Acknowledging the nation’s struggles with high inflation and a weak currency, he declared, “I will fight every obstacle that impedes business competitiveness in Nigeria.”
Tinubu’s address acknowledged the recent hardship caused by his “hard-biting economic reforms.” He defended these measures, including the removal of fuel subsidies and the restructuring of the foreign exchange system, as necessary to steer Nigeria away from “fiscal catastrophe.”
Text of President Bola Ahmed Tinubu's New Year Address to the Nation
Dear Compatriots,
It gives me immense joy to welcome each and everyone of you – young and old- to this brand new year 2024. We must lift up our hands to Almighty God, in gratitude, for his grace and…
— Presidency Nigeria (@NGRPresident) January 1, 2024Despite the temporary discomfort these reforms caused, Tinubu pledged to accelerate service delivery across sectors, focusing on power generation, food security, and local oil refining. He highlighted the progress made on the Siemens Energy power project, aiming to deliver reliable electricity to homes and businesses. Additionally, he outlined initiatives to cultivate staple crops on 500,000 hectares of land and to bring the Port Harcourt and Dangote refineries online in 2024.
Recognizing the sacrifices Nigerians are making, Tinubu urged them to remain hopeful. “The time may be rough and tough,” he said, “but our spirit must remain unbowed. We are made for this period, never to flinch, never to falter.”