100 days in office: Tinubu inherited weak economy from Buhari -Presidency

President Bola Tinubu inherited a weakened economy, according to the Federal Government on Tuesday, but he transformed the narrative within his first 100 days in office.

The Federal Government said that the elimination of fuel subsidies was “a Sword of Damocles that hung over Nigeria for decades,” but added that despite the difficulties, the President had sown the seeds for national change, expansion, and all-around development.

“This period may be challenging, but the President has planted the seeds of national transformation, growth, and all-round development. Our appeal to Nigerians and the labour unions is to continue to support the government and show more understanding. We must continue to work hard and confidently press forward to the glory of a greater Nigeria”, the FG said.

In a statement headlined “President Tinubu’s 100 days of steady progress and national rejuvenation,” Minister of Information and National Orientation Mallam Mohammed Idris made these remarks.

He asserts that President Tinubu was elected as Nigeria’s 16th president exactly 100 days ago, and that he took office as a result.

Idris said, “Since May 29, President Tinubu has been at his duty post, working assiduously to deliver on his campaign promises as enunciated in his Renewed Hope Agenda for a better and greater Nigeria.

“The President began the journey to rebuild our battered economy, realising that our country was in a difficult situation with our public debts – both local and foreign – coupled with an unsustainable fuel subsidy regime that created, for several decades, a galling hole in our public finance, rendering the three tiers of governments insolvent and incapable of meeting the needs of the citizens.

“President Tinubu took a bold and courageous decision to remove the fuel subsidy to avert a national economic catastrophe of epic proportions. Fuel subsidy was a Sword of Damocles that hung over Nigeria for decades. It stunted growth and set the country a-borrowing.

While describing the adverse effects of fuel subsidy removal and the unification of the exchange rate on Nigerians as “momentary discomfort”, the statement affirmed that the President has not failed in his appeal to Nigerians to accept the current realities.