My Govt Will bring down Inflation – Tinubu

President Bola Tinubu has asked Nigerians not to be troubled about the rising inflation rate in the country, vowing that his administration would bring it down. The president said though he does not possess any magic wand to turn around the economy, citizens should not get worried. Tinubu said this when he hosted the leadership […]

President Bola Tinubu has asked Nigerians not to be troubled about the rising inflation rate in the country, vowing that his administration would bring it down.

The president said though he does not possess any magic wand to turn around the economy, citizens should not get worried.

Tinubu said this when he hosted the leadership of the All Progressives Congress (APC) Presidential Campaign Council to 2024 Ramadan Iftar at the State House, Abuja.

Nigeria is battling economic hardship with the inflation rate on a steady rise since the Tinubu administration removed the petrol subsidy and unified the exchange rate in 2023.

The last report this year 2024, from the National Bureau of Statistics (NBS) stated that inflation jumped from 29.9 per cent in January to 31.7 per cent in February.

Speaking on the worsening economy, Tinubu said, “It is the hard job that you promised the people of Nigeria when you were campaigning for me, you promised them a good result. Didn’t you? That is it! I have to work for it. No magic wand.

“I campaigned on hope, I have to rest on that hope, and push for that hope for the joy of every one of us.

“The economy is looking good. Don’t worry about that… we know we have the challenge of inflation, it is okay, we will bring it down. We are reengineering, our revenue is getting better.

“Not that we have to go there and hire them to do the job for us, we are doing it ourselves. Whatever is happening to us, we have to solve it by ourselves. It is your effort, your thinking, your resourcefulness, your investment, your dedication and hard work that can only get us there.”

Nigerians are facing different challenges under Tinubu’s administration ranging from rising costs of food, depreciation of naira, and recently, the announcement of an increase in electricity tariff for Band A customers.