The Senior Special Adviser to the President on Entrepreneurship Development, Chalya Shagaya, has said the early signs of President Bola Tinubu’s economic reforms are encouraging.
Ms Shagaya made the remarks on Saturday at the mid-year economic outlook hosted by the Nigeria Indonesia Chamber of Commerce and Industry (NICCI).
She noted that the administration inherited an unstable economic climate upon assuming office.
She said tough but intentional reforms such as subsidy removal, forex unification, and recapitalised banking were fostering resilience in Nigeria’s economy.
According to her, tax reforms and adjustments in the power sector have also contributed to the emerging progress.
She stated, “The early signs are encouraging. Foreign reserves have risen from four billion dollars to over 23 billion dollars. State governments are smiling again as monthly allocations have increased.’’
She said that remittances were improving and exports becoming globally competitive, though inflation remains high. “But at least inflation is walking, not sprinting,” she noted.
Ms Shagaya said the administration was focused on supporting entrepreneurs and small businesses.
She highlighted several financial interventions for MSMEs and a newly signed tax bill to boost enterprise.
She noted that ongoing investments in digital infrastructure, innovation hubs, and skills development were also in motion.
She added, “This is not charity but smart economics. Entrepreneurs are job creators, problem solvers, and ambassadors building resilience one win at a time.’’
She said that the government was designing policies that offer real and accessible support.
“As we move forward, we’ll partner with the private sector and institutions,” she said.
She stressed that the aim was to drive investment, smarter collaboration, and enterprise-led growth.
Chief Consultant at B. Adedipe Associates Limited, Dr Biodun Adedipe, also spoke at the event.
He noted that global economic conditions had shifted from VUCA to BANI.
VUCA stands for Volatile, Uncertain, Complex and Ambiguous, while BANI is Brittle, Anxious, Non-linear and Incomprehensible.
Mr Adedipe projected a positive economic outlook for Nigeria in 2025.
He urged organisations to adopt resilience pillars such as governance, ethics, and strategic partnerships.
Other key pillars include innovation, technology, leadership development and investment in human capital.
He also advised on securing long-term capital and sustaining sound financial practices.
(NAN)
