Informal Sector is the True Engine of Nigeria’s Economy – President Tinubu

President Bola Ahmed Tinubu, has said that the informal sector remains the true engine of Nigeria’s economy, sustaining millions of livelihoods.

 

This is just as the President said he is aware of the pains occasioned by the socio-economic reforms caused by his administration, which he said have become necessary to build solid foundations for the country’s prosperity.

 

Represented by the Speaker of the House of Representatives Rt. Hon. Abbas Tajudeen, President Tinubu said this at the official inauguration of access roads, power, and water supply to the Informal Sector Layout, Wasa District, Abuja, on Friday.

 

The President stated, “What we are commissioning today goes far beyond the provision of access roads, erecting electricity poles, or laying water pipes. This is an investment in human dignity and economic freedom.

 

“The informal sector is the true engine of our economy, sustaining millions of livelihoods. By providing premium infrastructure here in Wasa, we are transforming this district into a modern, vibrant commercial hub that will boost Abuja’s Internally Generated Revenue (IGR) and lower the cost of doing business.”

 

The President stated that the project’s inauguration is to celebrate “another milestone in our collective journey toward urban renewal, economic inclusivity, and national transformation.”

 

He said, “To all Nigerians, I am deeply aware of the current economic realities across our nation. As your President, I feel your pain, I hear your concerns, and I carry the weight of your daily struggles. The economic reforms we have initiated are undoubtedly painful, and their immediate impact has been heavy on households and businesses alike.

 

“However, I assure you with the utmost sincerity that these decisions were not made lightly; they are difficult but necessary surgeries required to save the patient. We are painstakingly tearing down the broken structures of the past to lay an unshakeable, sustainable foundation for a prosperous future.”

 

President Tinubu stressed that true nation-building requires patience, resilience, and collective effort. “No great nation was ever built overnight or on the foundation of easy, short-term fixes,” he stated.

 

While urging all citizens across the federation to continue to support his administration, the President enjoined them to “stand with us as we navigate this challenging transition.” He also noted that their trust “is the fuel that drives our resolve, and I promise you that your sacrifices will not be in vain.”

 

President Tinubu added, “Let me reassure every citizen today: this government remains unswervingly committed to the welfare of all Nigerians. We are not just asking you to endure; we are actively working to cushion the effects and build a resilient economy. We are implementing targeted social intervention programs, investing heavily in agriculture to ensure food security, and creating jobs through massive structural developments like the one we see here today.

 

“My administration will not rest on its oars. We will continue to do more, build more, and invest more until the benefits of these reforms reach every single Nigerian home.”

 

This is just as President Tinubu commended Minister of the Federal Capital Territory, Barrister Nyesom Wike, for his “fierce dedication, unmatched drive, and effective leadership,” saying the former Governor of Rivers State has “proven time and again that with the right political will, projects are not just conceptualized—they are executed with speed and precision.”

 

The President equally praised Minister of State for the FCT, Dr. Mariya Mahmoud, for her “steadfast support, collaborative spirit, and dedication to the welfare of the people have been instrumental in harmonising the efforts of the FCT Administration to deliver on our promises.”

 

He said, “Together as a team, they have shown that the era of abandoned public projects in the Federal Capital Territory is officially over.”

 

President Tinubu recalled that when his administration came on board and presented the Renewed Hope Agenda to Nigerians, “we made a solemn pledge: that no segment of our society would be left behind, and that infrastructure would not be built for only the elite, but as a ladder for the economic empowerment of the everyday Nigerian.”

 

He also recalled that for over a decade, the hardworking mechanics, artisans, and traders—particularly those from the Apo Mechanic Village—have operated under challenging conditions, awaiting a permanent, structured, and conducive environment to drive their businesses.

 

He noted that the relocation to Wasa District was a promise long delayed by previous administrations. “Today, under this administration, that promise has been fulfilled,” he added.

 

To the artisans, business owners, and residents who will utilise the layout, the President urged them to protect the facility, maintain it, and “use it as a foundation to scale up your businesses, create wealth, and generate employment for our youth.”