Tinubu Vows to Lower Inflation Rates During His Administration

President Bola Tinubu reassured Nigerians about his commitment to tackling the rising inflation rate in the country, promising that his administration would work towards bringing it down. Despite acknowledging the challenges, Tinubu urged citizens not to despair, emphasizing that there are no quick fixes but assuring them of concerted efforts to address the situation.

Speaking during an Iftar event with the leadership of the All Progressives Congress (APC) Presidential Campaign Council in Abuja, Tinubu acknowledged the economic struggles facing Nigeria. However, he expressed confidence in the resilience and resourcefulness of Nigerians, highlighting the need for collective effort and hard work to overcome the challenges.

Since the removal of the petrol subsidy and the unification of the exchange rate in 2023, Nigeria has grappled with economic difficulties, including a steady rise in inflation rates. Tinubu’s remarks come amid concerns over the impact of these economic hardships on citizens, including soaring food prices and the recent announcement of increased electricity tariffs for Band A customers. Despite the daunting task ahead, Tinubu emphasized the importance of self-reliance and domestic efforts in finding solutions to Nigeria’s economic woes.