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President Bola Tinubu has urged Nigerians not to be troubled about the rising inflation rate in the country, vowing that his administration would bring it down.
The president assured the public not to worry, even though he lacks a magic wand to revive the economy.
At the State House in Abuja, Tinubu made this statement while hosting the All Progressives Congress (APC) Presidential Campaign Council leadership for a Ramadan Iftar in 2024.
Following the removal of the gasoline subsidy and the unification of the exchange rate in 2023 by the Tinubu administration, Nigeria is experiencing economic hardship due to a steadily rising inflation rate.
According to the National Bureau of Statistics’ (NBS) most recent report for 2024, the rate of inflation increased from 29.9% in January to 31.7% in February.
Speaking on the worsening economy, Tinubu said, “It is the hard job that you promised the people of Nigeria when you were campaigning for me, you promised them a good result. Didn’t you? That is it! I have to work for it. No magic wand.
“I campaigned on hope, I have to rest on that hope, and push for that hope for the joy of every one of us.
“The economy is looking good. Don’t worry about that… we know we have the challenge of inflation, it is okay, we will bring it down. We are reengineering, our revenue is getting better.
“Not that we have to go there and hire them to do the job for us, we are doing it ourselves. Whatever is happening to us, we have to solve it by ourselves. It is your effort, your thinking, your resourcefulness, your investment, your dedication and hard work that can only get us there.”
Under Tinubu’s leadership, Nigerians are dealing with a variety of issues, such as growing food prices, the weakening value of the naira, and most recently, the announcement of an increase in the electricity tariff for Band A customers.
