{"id":66842,"date":"2025-05-29T08:25:35","date_gmt":"2025-05-29T08:25:35","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=66842"},"modified":"2025-05-29T08:25:35","modified_gmt":"2025-05-29T08:25:35","slug":"reforms-paying-off-better-days-ahead-president-tinubu","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/05\/29\/reforms-paying-off-better-days-ahead-president-tinubu\/","title":{"rendered":"Reforms Paying Off, Better Days Ahead -President Tinubu"},"content":{"rendered":"<p><strong>By Samuel Adeola<\/strong><\/p>\n<p>President Bola Tinubu has assured Nigerians that the reforms introduced by his administration are beginning to yield results and that better days lie ahead, as he marked his second year in office.<\/p>\n<p>In a statement released on Wednesday, the president acknowledged the economic hardship many citizens are facing but emphasized that the government is committed to building \u201ca greater, more economically stable nation.\u201d<\/p>\n<p>\u201cI do not take your patience for granted,\u201d Tinubu said. \u201cWe are on the right path, and our efforts are beginning to show results.\u201d<\/p>\n<p>The president noted that his Renewed Hope Agenda remains focused on stabilizing the economy, improving national security, combating corruption, reforming governance, and reducing poverty.<\/p>\n<p>He explained that before the implementation of the current reforms, Nigeria was at risk of fiscal collapse\u2014facing the threat of hyperinflation, fuel scarcity, unsustainable debt levels, a weakening naira, and economic stagnation.<\/p>\n<p>According to Tinubu, key economic indicators have started to improve:<\/p>\n<p>Inflation is slowing down<\/p>\n<p>The budget deficit dropped from 5.4% of GDP in 2023 to 3.0% in 2024<\/p>\n<p>The debt service-to-revenue ratio fell from nearly 100% in 2022 to below 40% in 2024<\/p>\n<p>Nigeria has fully repaid its debt to the International Monetary Fund (IMF)<\/p>\n<p>Foreign reserves rose from $4 billion in 2023 to over $23 billion by the end of 2024<\/p>\n<p>The president also announced a set of tax reforms aimed at easing financial burdens, particularly on small businesses and low-income earners. These include: Ending multiple taxation on small businesses, Increasing the spending power of low-income earners, Removing Value Added Tax (VAT) on food, education, and healthcare and Exempting rent, public transport, and renewable energy from VAT.<\/p>\n<p>President Tinubu reaffirmed his administration\u2019s commitment to repositioning Nigeria for long-term prosperity.<\/p>\n<p>\u201cThe worst is behind us,\u201d he said. \u201cThe future is bright, and Nigerians will soon begin to feel the full benefits of the reforms.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Samuel Adeola President Bola Tinubu has assured Nigerians that the reforms introduced by his administration are beginning to yield results and that better days lie ahead, as he marked his second year in office. In a statement released on Wednesday, the president acknowledged the economic hardship many citizens are facing but emphasized that the [&hellip;]<\/p>\n","protected":false},"author":29,"featured_media":66846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-66842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/66842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=66842"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/66842\/revisions"}],"predecessor-version":[{"id":66847,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/66842\/revisions\/66847"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/66846"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=66842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=66842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=66842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}