President Bola Ahmed Tinubu has said that Nigeria’s economy has started to yield the desired results, with investor confidence growing and financial confidence restored.ng reports.
The President, who spoke on the state of the economy at the ongoing national convention of the All Progressives Congress (APC) in Abuja, noted significant improvements in key sectors of the economy, including oil and gas, which are attracting foreign investors.
“Investors’ confidence has partly improved. Our oil and gas sector has once more become attractive to foreign investment,” the President stated, noting that the restored financial confidence is a sign of a resilient economy.
According to him, “Following our reforms, our euro-bond insurance was oversubscribed by 400%, and Nigeria exceeded the financial grey list, making a decisive step to return to global financial credibility.”
On electricity supply, the President acknowledged the issues in the power sector, which have caused a lot of frustration in Nigeria, assuring citizens that his administration is taking steps to address the challenges and boost power generation and distribution.
“I assure you, many of you lamenting the problems of electricity, power. Yes, we are paying attention to that,” he said.
On the steps taken to resolve the issue in the power sector, the President revealed that, with the establishment of the Green Asset Management Council, about 1,500 megawatts of electricity will be injected into a line, promising to improve service, which will create job opportunities.
The President expressed confidence in the country’s economy, saying that it is moving towards sustainable growth.
“The Green Asset Management Council will inject approximately 1,500 megawatts into a new green corridor. We are going to improve on it. Electricity will become better, and be assured, there will be opportunities and progress in our industrialisation path.
“Tonight, you heard testimony from beneficiaries of our programmes. Our programmes are real, feasible, viable, impactful, measurable, and not mere rhetoric as some opposition elements like to say. We are moving from survivor mode,” he said.
