{"id":113588,"date":"2024-08-02T23:12:08","date_gmt":"2024-08-02T22:12:08","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=113588"},"modified":"2024-08-02T23:12:08","modified_gmt":"2024-08-02T22:12:08","slug":"my-govt-executing-bold-reforms-to-tackle-economic-challenges-tinubu","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/my-govt-executing-bold-reforms-to-tackle-economic-challenges-tinubu\/","title":{"rendered":"My Gov\u2019t Executing Bold Reforms To Tackle Economic Challenges \u2013 Tinubu\u00a0"},"content":{"rendered":"

President Bola Ahmed Tinubu has said his administration is undertaking bold economic policies to propel Nigeria\u2019s economy out of the downturn occasioned by multiple shocks in the global economy.<\/p>\n

\nHe also called for global cooperation among African countries to tackle their shared economic challenges and take advantage of opportunities.<\/div>\n
\nThe President spoke on Friday when he declared open the 2024 African Caucus Meeting at the Transcorp Hotel, Abuja.<\/div>\n
\nTinubu\u2019s remarks are coming on the back of protests against hardship which started on Thursday across the country.<\/div>\n
\nHe noted that although Africa was grappling with \u201cnumerous challenges across economic, humanitarian and social spheres,\u201d countries on the continent must take necessary measures to translate opportunities in natural resources and human capital into growth, innovation and collaboration.<\/p>\n

Tinubu, who was represented by Vice President Kashim Shettima, said the African Caucus Meeting was an opportunity to brainstorm on the major \u201cchallenges and strategies for fostering inclusive growth and sustainable development in Africa\u201d.<\/p><\/div>\n

\nThe theme of this year\u2019s meeting, \u201cFacilitating Intra-African Trade: Catalyst for Sustainable Economic Growth in Africa,\u201d reflects the collective commitment of member countries to moving the continent forward economically.<\/div>\n
\nDelivering his address titled, \u201cA Shared Vision for Africa\u2019s Growth,\u201d President Tinubu outlined ongoing efforts by his administration in Nigeria to address the global economic challenges.<\/div>\n
\nHe urged African countries to improve the quality of life for people across the continent by ensuring that democracy, good governance, and economic institutions work together.<\/div>\n
\nThe President said, \u201cAs a government, we have initiated bold economic reforms aimed at steering our economy away from the downturns caused by multiple shocks in the global economy toward a path of recovery and resilience through significant economic transformation.
\n\u201cOur reform efforts have been strategically focused on fostering fiscal and monetary efficiency, driving sustained long-term economic growth, and catalysing job creation in alignment with the SDGs\u2019 priorities.<\/div>\n
\n\u201cWe remain committed to optimizing our economic potential, delivering favourable outcomes for our citizens, and ensuring the overall sustainable development of the regional economy. Our efforts are yielding positive results, with improved macroeconomic stability and increased investment.\u201d<\/div>\n
\nPresident Tinubu described the caucus meeting as a vital platform to share experiences, forge partnerships, and chart a collective path forward.<\/div>\n
\n\u201cAfrica\u2019s story is one of resilience, creativity, and hope. Indeed, we have made significant strides in recent years, with many of our nations achieving remarkable economic growth, social progress, and political stability,\u201d he added.<\/div>\n
\nIn his welcome address, Chairperson of the Caucus\/Nigeria\u2019s Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said, \u201cBased on available data, 41 African countries are set for stronger growth of up to 3.8% from about 3.4% in 2022 and rising to 4.3% in 2025. These exceed the global average of about 3.2%.\u201d<\/div>\n
\nOn his part, Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, emphasized the significance of the meeting, saying Africa stood at a \u201ccrossroads with unprecedented opportunities for development alongside significant challenges.<\/div>\n
\n\u201cTo navigate this complex landscape and set the continent on the path of sustainable economic growth, we must leverage the support of our global partners,\u201d he added.<\/p>\n
<\/div>\n
<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

President Bola Ahmed Tinubu has said his administration is undertaking bold economic policies to propel Nigeria\u2019s economy out of the downturn occasioned by multiple shocks in the global economy. 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