President Bola Tinubu’s ongoing economic reforms are restoring confidence in Nigeria’s business environment and creating opportunities for entrepreneurs, says the presidency.

Nafia Abdullahi, technical assistant on regional development programmes in the Office of the Vice-President, said this on Sunday in Abuja.

She spoke during the inauguration of Makib Estilo, a new business outlet inaugurated by the Minister of Women Affairs, Imaan Sulaiman-Ibrahim.

Ms Abdullahi attributed the enterprise’s growth from a small shop into a diversified business to improving economic conditions under the Renewed Hope Agenda. She challenged critics of the administration’s economic policies to engage businesses and ordinary Nigerians directly before concluding that reforms had worsened economic conditions.

The presidential aide urged opposition politicians to assess the reforms objectively, noting that economic changes could initially be difficult for citizens to absorb.

Ms Abdullahi said Nigerians were gradually adapting to the new economic realities and beginning to appreciate their potential benefits.

She specifically urged opposition politicians to move beyond hearsay and interact directly with businesses and Nigerians to understand the reforms’ effects.

Ms Abdullahi said the reforms had begun easing some difficulties previously faced by businesses, particularly enterprises dependent on imported goods. She identified developments in the foreign exchange market as a major factor contributing to renewed confidence among entrepreneurs.

She mentioned that the naira’s sharp depreciation had increased import costs and made business expansion increasingly difficult for entrepreneurs.

“If you look at the dollar, as my sister mentioned earlier, before, the dollar was just going up rapidly. So, it was getting difficult for us to import and bring things into Nigeria. But after the economic reforms were introduced, everything started coming down. You can see that the business is stabilised,” the presidential aide explained.

(NAN)