President Muhammadu Buhari has apologised to Nigerians over how his economic policies caused them untold hardships.
The President said some tough choices had to be made to revamp the economy.
He said this in his last broadcast as the country's President after eight years in office.
Amongst the most pressing hardship was the recent naira redesign by the CBN.
”In the course of revamping the economy, we made some difficult choices, most of which yielded the desired results.
“Some of the measures led to temporary pains and sufferings for which I sincerely apologised to my fellow countrymen, but the measures were taken for the overall good of the country.”
According to Buhari, the Nigerian economy has become more resilient due to the various strategies put in place to ensure that the economy remained afloat during cases of global economic downturns.
“You would all recall the supply chain disruptions and economic downturn that the world witnessed between 2020 and 2022 as a result of the COVID-19 pandemic.
“The deftness of our response to the pandemic still remains a global best practice.
“Furthermore, we increased the ability of the poor and rural Nigerians to earn a living, provided more food for millions in our villages and gave our women opportunities to earn a living.
“Young men and women in urban centres were also supported to put their skills into productive use.”
The president affirmed that his administration also provided an enabling environment for the private sector to engage in businesses for which their return on investments is guaranteed.
He stated that the private sector proved a strong partner in the drive to build a resilient and sustainable economy as evidenced by the growing number of turnkey projects in various sectors of the economy.
On infrastructural development, Buhari disclosed that his administration had successfully completed some legacy projects to drive economic growth in the country.
“Mindful of the need to ensure adequate infrastructure to drive economic growth, we completed age-long projects and processes notably amongst which are the Petroleum Industry Act, completion of some power projects, completion of the Second Niger Bridge and various important roads linking cities and states,” he said.
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