President Tinubu noted in his speech that the economy has been unbalanced on account of a shaky foundation built on its decades-old dependence on oil revenues.
SCORECARD: Under Tinubu, Nigeria’s education sector yet to see renewed hopeSPECIAL REPORT: Rising cost of sanitary pads impedes menstrual hygiene among Nigerian womenSPECIAL REPORT: Enugu community where residents rely on polluted river, deplorable PHCWoe unto Israel!, By Femi Fani-KayodeSCORECARD: Under Tinubu, Nigeria’s education sector yet to see renewed hopeSPECIAL REPORT: Rising cost of sanitary pads impedes menstrual hygiene among Nigerian womenSPECIAL REPORT: Enugu community where...
“They are necessary repairs required to fix the economy over a long run so that everyone has access to economic opportunity, fair play and compensation for his endeavour and labour.” It’s essential to acknowledge that news production incurs expenses, and we take pride in never placing our stories behind a prohibitive paywall.That shift from the unorthodoxy of the managed float the country operated for years has triggered two devaluations of the currency ever since, leading to a slide of more than 70 per cent in the value of the naira.
The industry has been plagued by oil theft and years of under-investment, both of which have taken their toll on output. On Wednesday, Mr Tinubu said he understands the economic difficulties faced as a nation while noting that the reforms initiated are intended to create a stronger, better foundation for future growth.
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