The Independent Media and Policy Initiative (IMPI) has said the economic reforms implemented by President Bola Tinubu will unlock the fortunes of Nigeria, making it a 22nd century superpower.
In a policy statement titled “Tinubu’s Reforms: We Admonish No Retreat, No Surrender”, which was issued by its chairman, Niyi Akinsinju, the policy think-tank noted that the market-driven reforms will place Nigeria back as the true giant of Africa.
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“We are unpretentious about our support and advocacy for the policies being advanced by the Tinubu’s administration targeted at enabling a market-driven economy. This is where we believe the fortunes of this great country can and would be unlocked,” Akinsinju said.
The chairman of the group said the reforms initiated by the Tinubu-led administration were long overdue, stressing that rather than shying away from the needed intervention “the President has determinedly decided to walk the hard, lonely route of application of unpopular yet result oriented policy”.
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Tinubu declared an end to an age long fuel subsidy regime the very day he was sworn in as president and unified the country’s foreign exchange.
Though experts have lauded the president’s bold moves, enough plans were not made available to absorb the shocks the policies will have on the economy.
Since the pronouncement on May 29 last year, prices of premium motor spirit have more than tripled and the naira plummeted to a record against the US dollar.
Meanwhile, IMPI has encouraged Nigerians to persevere, even as the poverty rate in Africa’s biggest economies has risen, saying the reforms will bear the fruit of wealth creation and prosperity for all.
“Our fate should not be about existing from one day to the other; it should be about accepting the generational responsibility of standing in the gap for future generations. To sacrifice our today to change the economic trend of our country where rather than have millions numbered in poverty, we will have millions counted in wealth,” the group said.
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