President Tinubu’s Economic Reforms Are Difficult But Necessary – Bill Gates

American billionaire, Bill Gates, has declared support for the economic reforms and policies embarked upon by the administration of President Bola Tinubu in Nigeria.

He described the reforms as difficult but necessary steps needed by the country, adding that President Tinubu’s “Renewed Hope” agenda is ambitious.

Gates noted that Nigerians are struggling, incomes have fallen, and prices have soared, with protests rocking some locations due to the reforms, but expressed hope that solutions are in the pipeline.

Naija News reports he made the submissions while speaking on Wednesday at the National Economic Council (NEC) meeting held at the Council Chambers of the Aso Rock Presidential Villa in Abuja.

The meeting was presided over by Vice President Kashim Sheitima.

He said, “Nigeria’s economic leaders have done some difficult, but necessary things, like unifying the exchange rate. The next great hurdle is raising revenue.

“I understand this is a politically sensitive area. Nigerians are struggling. Incomes have fallen. Prices have soared. And like in many other countries, people are protesting.

“Taxes are never popular. That’s true in America too. But they’re part of a social compact. People are more likely to pay them when they see the government spending that money to give Nigerians a better life.

“That’s what I want to speak about today. Because there are so many Nigerian leaders committed to investing in your people. And so many promising solutions in the pipeline.

“President Tinubu’s “Renewed Hope” agenda is ambitious. And he’s assembled a cabinet ready to meet the challenge. But with limited resources, the key is putting the funds you do have to the best possible use.