Fuel subsidy removal, FX unification: We’re on track – Tinubu

President Bola Ahmed Tinubu has expressed confidence that his administration is on the path to success despite the country’s challenges, saying Nigeria has no reason to fail the African continent.

Dele Alake, Special Adviser to the President on Special Duties, Communication, and Strategy, said Tinubu disclosed this while receiving visiting Bank of America officials in his office at the State House on Tuesday.

Tinubu stressed that his government was committed to instituting reforms that would engender sustainable growth and development in the country.

“We believe we are on the right track so far. We believe we need all the help we can get,” the President said as he asked the bank’s management for support and partnership to advance mutual benefits for Nigeria and the financial institution.

President Tinubu said the governance and development challenges facing the country cannot be addressed without fiscal and institutional reforms.

“Twenty-first-century actions on climate change, finance, and innovation are intertwined. Having a good platform and believing in innovation will help in undertaking reforms and tackling the issues. This is the largest economy and democracy in Africa, and if we cannot do it, nobody will do it for us,” he said.

Affirming that no one can do it alone, President Tinubu made a case for the bank and other willing financing institutions to help the country, for instance, by partnering to ensure Nigerian gas competes favourably in the global market as a viable source of alternative revenue.

Within a month of the President’s inauguration, Tinubu announced reforms such as fuel subsidy removal, foreign exchange window unification, and other policies resulting in immediate macroeconomic effects such as price hikes for transportation, goods, and services.