President Bola Ahmed Tinubu has reassured his commitment to tackling the economic and security challenges facing the country.
The President stated this while addressing delegates at the Nigerian Institute of Management’s 2024 Annual National Conference, in Port Harcourt, Rivers State.
He noted that the security of lives and property remains essential for the nation’s development.
Represented by the Head of Federal Civil Service, Didi Esther Walson-Jack, Tinubu acknowledged that Nigeria is faced with numerous security threats such as terrorism, banditry, kidnapping, and communal clashes, which he said does not only endanger physical safety but also hinder economic growth and foreign investment.
He also acknowledged the challenges of inflation, unemployment, and inadequate infrastructure, but assured that strategic initiatives will be implemented to enhance business development and improve quality of life of the citizens.
To combat the challenges President Tinubu stressed the importance of enhancing intelligence capabilities, strengthening community policing, and equipping security forces adequately and collaboration.
He also underscored the need to address the root causes of insecurity, such as poverty, unemployment, and inadequate education, to ensure lasting peace.
He added that Nigeria’s economic stability is crucial for its growth and prosperity, noting that his administration has been working tirelessly to diversify the economy, investing in key sectors such as agriculture, technology, and renewable energy
Tinubu noted that his government has also introduced bold reforms, including floating of the Naira and removing fuel subsidies, aimed at revitalizing the economy and expressed confidence that despite the short-term hardships, the sacrifices will yield benefits for Nigerians and the economy in no distant time.
“As we strive towards the vision of a prosperous and self-sufficient nation, we recognize that economic stability is crucial. It serves as the bedrock upon which we can build sustainable growth, create jobs, and foster innovation. However, achieving this stability requires more than just favorable policies; it demands collective action among the government, business leaders, civil society, and, indeed, the citizenry.
“Within the short time we have been in charge of steering the ship of the nation, we have made appreciable strides in diversifying our economy, with significant investments in some critical sectors such as agriculture, technology, and renewable energy. In the bid to quickly kick-start and stabilise the weak economy which we inherited, we have taken some hard decisions through the economic reforms introduced so far such as the floating of the Naira and removal of fuel subsidy.
“We recognise the fact that the pains occasioned by these reformative economic policies have been biting hard on the citizenry but we are convinced that the nation’s economy and Nigerians will start reaping the benefits of all the sacrifices in no distant time,” he said.
Also, the Rivers State Deputy Governor, Ngozi Odu while representing Governor Siminalayi Fubara at the event, stressed the need for collective effort to address Nigeria’s economic and security challenges.
She said Rivers State has experienced firsthand, the impact of economic instability on local communities, businesses, and government operations. To achieve economic stability and national security, the deputy governor called for the diversion of the economy from oil, addressing infrastructure deficit, implementing sound fiscal policies and creating conducive environment for small scale businesses to thrive.
Odu highlighted the complex interplay between economic stability and national security, citing resource allocation, youth unemployment, regional disparities, and corruption as contending issues.
She said Rivers State has been grappling with the impact of oil theft on revenue, environmental degradation, and security challenges in the Niger Delta region which underscore the complexity of the problems.
Earlier in her address, the President and Chairman of Council of the Nigerian Institute of Management, Christiana Atako emphasized the critical need for collective action to address Nigeria’s economic and security challenges.
Atako noted that Nigeria, regarded as one of Africa’s economic powerhouses due to its abundant resources and diverse populace, grapples with several economic and security challenges that directly impact its economy.
She added that the conference aims to provide solutions to the government, charting a direction for Nigeria’s economic stability and national security, stressing that as Nigeria navigates the challenges, it is essential to prioritize security, economic reforms, and sustainable development to ensure a brighter future for its citizens
Also, the keynote speaker at the conference, Dr Ajoritsedere Awosika, harped on the urgent need for collective action to address Nigeria’s economic and security challenges.
She noted that Nigeria’s journey has been marred by trials as the country is currently faced with the challenging task of securing its economy and safeguarding its nation.
She pointed out that Unemployment, particularly among young people, is a pressing issue that threatens not only the economy but also national security, with millions of educated and skilled youths unable to find meaningful jobs, the country’s economic stability is compromised.
She called for entrenching of good and transparent governance, community collaboration, investment in youth education and skills acquisition as part of measures to curb insecurity and foster economic stability in the country.
