Bill Gates Backs Tinubu’s Economic Reforms, Labels Them Difficult but Necessary

American billionaire Bill Gates has expressed his support for the economic reforms and policies implemented by the administration of President Bola Tinubu in Nigeria.

Gates described the reforms as challenging but essential for the country’s progress, adding that President Tinubu’s “Renewed Hope” agenda is ambitious and aimed at long-term development.

Acknowledging the struggles faced by Nigerians due to these reforms, Gates pointed out that while incomes have dropped and prices have surged, leading to protests in some areas, there is optimism for future solutions.

Speaking at the National Economic Council (NEC) meeting on Wednesday, held at the Council Chambers of the Aso Rock Presidential Villa in Abuja, Gates emphasized the importance of raising revenue as the next critical step for the Nigerian government.

“Nigeria’s economic leaders have taken on some tough but necessary measures, like unifying the exchange rate. The next major challenge is raising revenue,” Gates remarked during the session, which was chaired by Vice President Kashim Shettima.

He acknowledged the sensitivity of the topic, saying, “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.”

Gates also touched on the unpopular nature of taxes, saying, “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 using that money to improve their lives.”

He further praised Nigerian leaders for their commitment to investing in the country’s people and highlighted the numerous promising solutions in the works.

“President Tinubu’s ‘Renewed Hope’ agenda is ambitious. He has assembled a cabinet ready to meet the challenges. But with limited resources, the key is making the most of the funds available,” Gates concluded.