Nigeria’s president says economic reforms will continue despite hardships

One year after he came to power, Nigeria’s president Bola Tinubu on Wednesday said his economic reforms will continue despite increasing hardships.

During his televised Democracy Day speech, he acknowledged the economic difficulties facing the nation, but said the economy had been in desperate need of reform for decades.

With the country facing its worst cost-of-living crisis in years, Nigerians are angry about changes made by his administration.

These include the removing of a petrol subsidy that kept prices artificially low, and the devaluation of the currency which sent inflation soaring to over 33 per cent in April.

Tinubu said the reforms were intended to create a stronger, better foundation for future growth in Nigeria, and offer everyone access to economic opportunity and fair pay.

As part of this, he announced plans to set a new  minimum wage, saying that as his administration continues to reform the economy, he will always listen to the people.