The Democratic Front, TDF, has expressed happiness over the commendations for the stability and steady recovery of Nigeria’s economy by the International Finance Corporation, IFC, and the International Monetary Fund, IMF, at an international business conference organised by the Lagos Chamber of Commerce and Industry, LCCI.
The TDF stated its position in a statement by its chairman, Mr. Danjuma Muhammad, and secretary, Mr. Wale Adedayo, on Wednesday.
The statement reads in part: “We note that, not too long ago, the Chairman of the World Bank Dr. Ngozi Okonjo Iweala was in Nigeria to acknowledge the impressive stability of the economy, and the remarkable success attained by the ongoing economic reforms under the President Bola Ahmed Tinubu administration. Iweala also boosted the President’s morale, by predicting economic resurgence for Nigeria in the near future, if the course of the reform is sustained.
“It is imperative to also recall that at different stages of the ongoing economic reforms, top-notch world credit rating agencies like Fitch, Moody’s Investors Service, and Standard and Poor’s (S&P) have rated Nigeria’s credit outlook to be Stable, on account of the ongoing restructuring of the economy, and reengineering of the nation’s financial system by President Bola Ahmed Tinubu.”
The group said major achievements of the Tinubu reforms in the economy like the deceleration of inflation pressure, stability of foreign exchange rate, steady increase in foreign reserve, and the tremendous surge in national revenue generation, indicated the possibility of the country’s gradual return to economic resurgence, through sustained economic growth, low and stable inflation rate, increased investment and consumer confidence, and improved employment rates and job market stability in a short period of time.
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“As we celebrate the macroeconomic breakthrough of the ongoing reforms, we are confident that the economic health of the nation would further improve, when the new tax administration takes- off in January 2026. It is therefore a huge kudos to Tinubu’s courage to initiate a painful, but necessary economic reform that has instituted an accountable financial system that is resistive to the pressure of corruption and market monopoly,” the group said.
It stated that the benefits of the positive assessments of the economy by global bodies like the World Bank, IMF, IFC, FITCH, MOODY’s, and S&P are multi-faceted and multi-dimensional.
Nigeria must leverage the endorsement of these global bodies to attract investments and promote economic stability to consolidate Tinubu’s commitment to good economic governance and transparency.
It called on Nigerians to take pride in the flurry of global endorsement and commendations for the president’s economic milestone, bearing in mind that their continuous support for ongoing policies and programmes would entrench an order of good governance, in a robust and stable economy.
“Finally, we urge Mr. President to remain resolute in his commitment to driving his economic reforms to fruition. Because we believe that he should stay the course, so that Nigerians can reap the full benefits of his economic reforms,” the group said.
