Nigeria is on the path of sustainable economic recovery and prosperity, President Bola Ahmed Tinubu has assured.

He also promised that the inflation crisis would be over soon with the bringing down of the galloping rate.

Inflation has moved from 22.41 per cent in May 2023 to 31.70 per cent as of the end of February.

The President took bold steps when he came into office on May 29 last year.

He declared the petrol subsidy as ‘gone’, floated the naira and announced the unification of the exchange rate.

Following the reforms, the naira weakened to about N1,900/$ but has started gathering strength. It now exchanges for less than N1,300/$.

The President spoke during an Iftar (breaking of the Ramadan fast) with those who campaigned for him during electioneering last year.

Tinubu said: “The economy is looking much better. Yes, we have challenges of inflation, but we will bring it down.

“When the exchange rate was going haywire, it looked like we were asleep, but we worked on it diligently, and it is going down; it is getting better.

“Borrowing was higher a year ago, but today, we are reengineering the financial landscape.

“Our revenue is expanding; we are taking up our sovereignty and earning our respect in the comity of nations.”

A statement by Presidential spokesman Ajuri Ngelale quoted Tinubu as saying: “There are a lot of expectations. I, therefore, have to work hard for it. There is a windy road we are travelling on. We have to navigate carefully. Otherwise, one ends up in the bush, and that is all I have been focused on.

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