President Bola Tinubu said on Monday that despite the hardships caused by the elimination of fuel subsidies and other economic reforms implemented by his administration, Nigerians will soon reap the fruits of their efforts.
Tinubu made the statement during his speech at the 2024 Annual National Management Conference of the Nigerian Institute of Management (Chattered), which was held in Port Harcourt, Rivers State, under the topic ‘Economic Stability and National Security: Contending Issues and the Way Forward’.
The President, who was the event’s Special Guest of Honour and was represented by the Federation’s Head of Service, Didi Esther Walson-Jack, emphasised that the choices were intended to stabilise the poor economy that he inherited.
He stated that in the short time he has been in charge of guiding the nation’s ship, his administration has made major gains in diversifying the economy, including large investments in important sectors such as agriculture, technology, and renewable energy.
He stated, “In the bid to quickly kick-start and stabilise the weak economy that we inherited, we have taken some hard decisions through the economic reforms introduced so far, such as the floating of the naira and the removal of fuel subsidies.
“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 will start reaping the benefits of all the sacrifices in no distant time.”
He described the event as a gathering of great minds dedicated to advancing excellent management practices in Nigeria, with a large number of professional managers representing decision-makers in both the public and commercial sectors of the country’s economy.
“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 making life easier for the citizenry,” Tinubu added.
While recognising that the country is at a crossroads where the relationship between economic health and national security cannot be exaggerated, he stated that these two pillars were inextricably intertwined, saying, “Our strategy must reflect that fact.
“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 stated that in addition to economic disadvantages, the country suffers a multitude of security concerns, including terrorism, banditry, kidnapping, and communal confrontations, which demand a diversified approach to address 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 praising the NIM’s efforts and support for national development, which he believes the organisation has proved through public policy advocacy and other programs, he urged the institute to increase its presence in public portions 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.”
