By Abiola Olawale
President Bola Ahmed Tinubu has appealed to Nigerians to exercise patience and have faith in his economic reforms.
Tinubu, in an address on Nigeria’s 64th Independence Day Anniversary Broadcast, said he was aware of the struggles his economic reforms have caused Nigerians.
He, however, declared that the reforms were necessary to put the country on the right trajectory.
He said: “Fellow Nigerians, as I address you today, I am deeply aware of the struggles many of you face in these challenging times. Our administration knows that many of you struggle with rising living costs and the search for meaningful employment. I want to assure you that your voices are heard.
“As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel.
“Exactly 64 years ago, our founding fathers chose democracy as a form of government and launched the dream of a great country that would lead the rest of Africa out of poverty, ignorance, and underdevelopment, a beacon of hope to the rest of Africa and the world.
“Over six decades later, we can look back, and Nigerians worldwide can see how well we have succeeded in realising the lofty dreams of our founding fathers.”
The president called on Nigerians to remain hopeful for the future, saying the country has remained indivisible despite facing similar challenges that resulted in the “disintegration of other nations”.
He continued: “While it is tempting to focus on what has been left undone and where we have stumbled as a nation, we must never lose sight of how far we have come in forging and holding our country together,” he said.
“Since independence, our nation has survived many crises and upheavals that led to the dissolution and disintegration of many other nations worldwide. Six years after independence, our country descended into a political crisis that led to a bitter and avoidable civil war.
“Since returning from the brink of that darkest moment, we have learned to embrace our diversity and manage our differences better as we continue to work towards engendering a more perfect union.”
Tinubu said despite the challenges that “buffeted our country”, Nigeria remains a “strong, united, and viable sovereign” nation.
The President’s address comes amid widespread demonstrations driven by public dissatisfaction with the administration’s handling of economic issues, including soaring inflation and high cost of living.
It would be recalled in August #EndBadGovernance protests erupted, where many youth groups made their grievances known about the worsening economic conditions in Nigeria.
The removal of fuel subsidies has been said to have worsened inflation, according to economic experts.
The National Bureau of Statistics (NBS) reports that the headline inflation rate reached 34.19% in June 2024, up from 33.95% in May 2024.
However, since July, NBS reported a consecutive decline in Nigeria’s inflation rate.
According to a report released by the NBS, the inflation rate in August stood at 32.15%, a decline from 33.40% recorded in July and 34.19% recorded in June.
