President Bola Ahmed Tinubu has held his first media chat, addressing critical national issues ranging from security, governance, and economic reforms to social welfare.
Here are some takeaways from the media chat aired on Monday night.
Of controversial tax reform bill and Nigeria’s automotive industry
Insecurity: People can now travel by road in Nigeria — Tinubu
How we’re steering Nigeria towards recovery, growth — Tinubu
- Stampede Incidents
President Tinubu expressed condolences to families affected by recent stampede incidents linked to charity, he emphasized the importance of responsible giving.
“Condolences to those who lost a family member, but it is good to give,” he said. “I have been giving out foodstuff and commodities in Bourdillon.
“If you know you don’t have enough to give, don’t attempt or publicize it.”
- Progress in Tackling Insecurity
Addressing the nation’s security challenges, Tinubu expressed optimism in the current security architecture, citing notable improvements in previously volatile regions.
“Today, I have confidence in my security architecture,” he said. “It is very, very unfortunate that, for two decades, we witnessed wanton killings. I remember when I had to pause my campaign to pay condolence visits to Maiduguri, Katsina, Kaduna, and Kogi. Today, you can travel these roads, which were once impossible. It took one incident to disrupt an organized environment.”
- Removal of Fuel Subsidy and Forex Harmonization
Tinubu defended his administration’s decision to remove the fuel subsidy and harmonize foreign exchange rates, describing them as necessary steps for Nigeria’s economic recovery.
“We were spending our future. We were spending our generation’s fortune. We were not investing; we were just deceiving ourselves,” he said.
These measures, according to Tinubu, are essential to redirect the country toward sustainable development despite the initial economic shocks.
“I don’t have any regrets whatsoever in removing petrol subsidy,” Tinubu declared. “We are spending our future, we were just deceiving ourselves, that reform was necessary.”
He added that Nigeria could no longer act as “Father Christmas” to neighboring countries by subsidizing fuel costs that often benefited them more than Nigerians.
- Tax Reform Bills for a Modern Economy
The President reaffirmed his commitment to implementing comprehensive tax reforms aimed at aligning Nigeria’s economy with global standards.
“Tax reform is here to stay,” he declared. “We cannot continue to do what we were doing yesterday in today’s economy.
Tinubu emphasized the importance of creating an efficient tax system that fosters economic growth while reducing dependency on oil revenues.
- Expected Impacts of His Reforms
Acknowledging the temporary hardships caused by his administration’s policies, Tinubu urged Nigerians to remain patient and hopeful.
“The reforms come with temporary hardships, but conviction about their long-term positive impacts is key in this journey,” he stated. “It is not going to be Eldorado for everybody. But the new dawn is here.
“I am convinced, and you should be convinced, and you should help propagate that conviction.”
- Not downsizing of cabinet
Tinubu defended his decision to maintain a 48-member cabinet, dismissing criticisms that it is “bloated” and emphasizing the need for efficiency in governance.
“I am not ready to shrink the size of my cabinet,” Tinubu stated during a media chat at his Bourdillon residence in Ikoyi, Lagos. He argued that “efficiency” guided his selection of ministers, implying that the size of the cabinet aligns with the administration’s goals and priorities.
- Tax reforms have come to stay, but open to negotiations on VAT
- Expresses confidence in his security architecture
- Insists reforms not designed to inflict pains on Nigerians, necessary for growth
- Says he has met obligations without recourse to NNPCL funds
