Tinubu begs Nigerians for more calm over hardship, says ‘your sacrifices will soon yield lasting economic benefits’

President Bola Ahmed Tinubu has begged Nigerians for more patience over hardship occasioned by the removal of fuel subsidy and other economic reforms introduced by his administration, saying they will start reaping the benefits of these sacrifices soon.

The president spoke on Monday at the 2024 Annual National Conference of the Nigerian Institute of Management (NIM) held in Port Harcourt, Rivers State.

Represented by the Head of Service of the Federation, Didi Esther Walson-Jack, the President, who was the Special Guest of Honour at the event, explained that the decisions were aimed at stabilising the weak economy which he inherited.

He said within the short time he had been in charge of steering the ship of the nation, his administration had made appreciable strides in diversifying the economy, with significant investments in some critical sectors, such as agriculture, technology, and renewable energy.

He stated, “In the bid to quickly kick-start and stabilise the weak economy which we inherited, we have taken some hard decisions through the economic reforms introduced so far such as the floating of the naira and removal of fuel subsidy.

“We recognise the fact that the pains occasioned by these reformative economic policies have been biting hard on the citizenry but we are convinced that the nation’s economy and the Nigerians He said the large number of professional managers comprising decision-makers in both the public and private sectors of the nation’s economy at the event was a gathering of brilliant minds dedicated to the advancement of good management practices in Nigeria.

“Let me begin by expressing my sincere appreciation to the Nigerian Institute of Management for their invaluable contributions to the development of our nation. Your commitment to excellence in management is vital for it is through good management that we can unlock the full potential of our resources and human capital.

“The theme of this Conference, ‘Economic Stability and National Security: The Contending Issues and the Way Forward’, is apt and relevant towards charting a new course and national rebirth for the country in line with the eight-point agenda of the Federal Government aimed at turning around the economy and make life easier for the citizenry,” Tinubu added.

While noting that the nation stands at a crossroads where the interplay between economic health and national security cannot be overstated, he said these two pillars were intrinsically linked, saying, “Our strategies must reflect that reality.

“By choosing this theme as the focus of this year’s Conference, the Institute has further demonstrated that it is committed to supporting the Federal Government in achieving its drive to reposition and turn around the nation’s economy and set it on the path of real development and progress. You have indeed proven, once again, to be partners in progress with the government.”

He said in addition to economic drawbacks, the country faces a myriad of security challenges, including terrorism, banditry, kidnapping, and communal clashes, which requires a multifaceted approach to tackle them,

“It is imperative that we adopt a multifaceted approach to both economic and security challenges. We must enhance our intelligence capabilities, strengthen community policing, and ensure that our security forces are adequately equipped.

“Moreover, addressing the root causes of insecurity such as poverty, unemployment, and inadequate education is essential to ensuring lasting peace,” Tinubu said.

While lauding the NIM’s contributions and support towards national development which according to him the body has demonstrated this through its Public Policy Advocacy and other programmes, he urged the institute to improve its visibility at public sections of the National Assembly.

“I further challenge the Institute to improve its visibility at public sessions of the National Assembly when bills are being considered so as to make more robust professional management input that will be most relevant in the public domain. The Federal Government will appreciate the involvement of the institute in the key function areas of governance where the services of professional bodies are needed.”