President Bola Tinubu has held a meeting with a group of investors in Paris, France, during his ongoing visit to the European nation. The news was shared by Dada Olusegun, the president's special assistant on social media, via a tweet on Tuesday, May 5.
Tinubu Expresses Confidence in Nigeria's Economy
In a video from the meeting, President Tinubu expressed confidence in Nigeria's economic trajectory, stating that significant bottlenecks such as the fuel subsidy and exchange rate distortions have been removed. He reiterated that he inherited an economy on the brink of collapse, describing the situation as a serious turnaround and recalibration. The president emphasized that the subsidy, which he called a burden to the entire country, had been eliminated, leading to foreign exchange stability.
Subsidy Removal and Its Impact
Recall that President Tinubu announced the removal of the fuel subsidy on his first day in office and subsequently unified the exchange rate. His administration has consistently defended these policies despite their impact on the prices of essential goods across the country.
Public Reactions to Tinubu's Statements
The president's recent remarks about the subsidy removal have sparked reactions from Nigerians, especially as they come ahead of his re-election campaigns. Here are some comments from social media:
- Seyi lamented the state of the economy: "Nigerian economics is like astrophysics. Who can explain why, after removing the petrol subsidy that was blamed for almost all our problems, the majority of Nigerians still face biting hardship? N1m is now what N100k was in 2015."
- Square Circle criticized the president's approach: "Real Presidents receive investors in their office and do not go to them in their home countries. If your results after three years can't compel them to come, your words won't either. Your tweet is one of the dumbest things to say about a man leading over 200 million people."
- Kehinde Adenayo questioned the government: "Is France not subsidizing anything for its citizens? What are you doing with the subsidy money? Still borrowing more? No standard hospital, no conducive environment for education, no light for production."
- Hussaini Ismail offered a prayer: "Masha Allah, may Nigeria succeed under President Tinubu's administration, in Sha Allah."
- Mafia Nouveau commented: "I have not seen top leaders move from one country to another looking for investors. Ike gwuru."
The video of the president's meeting has been shared widely on social media platforms.
