The Federal Government has assured the country that the implemented policies will restore the nation and create better avenues for prosperity.

In May 2023, President Bola Tinubu assumed office and introduced the removal of fuel subsidies. This led to a hike in fuel prices, transportation, food, and many more crises, thereby causing hardship for citizens.

During the 30th Nigerian Economic Summit held in Abuja, Minister of Budget and Economic Planning, Atiku Bagudu, highlighted the nation’s concerns, stating that the current economic challenges are temporary.

Bagudu stated, “There is indeed light at the end of the tunnel,” pointing to early signs of improvement as evidence of progress.

“These governance and institutional reforms have helped to improve our macro-economic performance," Bagudu noted. "Our GDP grew from 2.98% in Q1 2024 to 3.19% in Q2 2024, inflation is trending downwards, and our external reserves are improving."

He pointed out that Nigeria’s external trade balance improved slightly in Q2 2024, which shows the effectiveness of the administration’s economic reforms.

Bagudu expressed confidence that the economy is on the right path, stressing the importance of bold and collaborative efforts to mitigate decades of underinvestment.

“We need more to ensure we deliver a collaborative, competitive, and stable environment,” he added.

Speaking on the theme, "Collaborative Action for Growth, Competitiveness, and Stability," the Minister hinted at the government’s plans to improve the lives of all Nigerians. Bagudu stated that the federal government is determined to alleviate the country from its current state.