Yesterday, President Bola Tinubu confidently stated that his administration’s Renewed Hope Agenda aims to propel Nigeria into a trillion-dollar economy over the next decade by harnessing the nation’s population and resources, with a particular emphasis on unleashing its untapped economic capabilities.
He highlighted that the realization of this goal could be accelerated through continuous initiatives in job creation, facilitating access to capital for businesses of all scales, promoting inclusivity, upholding the rule of law, and actively combating hunger, poverty, and corruption.
President Tinubu made this announcement during the inaugural session of the 2023 National Engineering Conference, Exhibition, and Annual General Meeting organized by the Nigerian Society of Engineers, NSE.
Represented by Vice President Senator Kashim Shettima, Tinubu affirmed that leveraging Nigeria’s abundant population and resources could propel the nation into a trillion-dollar economy in the next decade.
However, he said he was sceptical about the crucial role played by the elements encapsulated in the theme of the NSE Conference, “Manufacturing, Competitiveness, and Economic Growth,” in achieving the formidable target.
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Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Stanley Nkwocha, quoted Tinubu as saying: ‘The Renewed Hope Agenda of my administration is defined by our commitment to unleashing our country’s full economic potential, by focusing on job creation, access to capital for small and large businesses, inclusiveness, the rule of law, and the fight against hunger, poverty and corruption.’
The President said he was not unmindful of the hardships most Nigerians were enmeshed in, noting, however, that ‘the difficult times are indeed temporary, but the benefits will be permanent.’
Reeling out his administration’s efforts in transforming the economy and creating opportunities for citizens, Tinubu said: ‘I have had engagements with stakeholders across Nigeria’s manufacturing sector. I am very much aware of the problems and challenges that are uppermost in your minds: access to low-cost capital, multiple taxation, infrastructure issues, foreign exchange, export obstacles, among others.’
‘I am happy to let you know that we are tackling, with unprecedented boldness and decisiveness, each and every one of these issues.’
On the subject of taxation, the President detailed that the principal objective of his administration is to bolster the country’s tax revenues while simultaneously mitigating the financial burden on individuals and businesses.