The Federal Government has defended the ongoing economic reforms introduced by the administration of President Bola Ahmed Tinubu, describing them as difficult but essential measures needed to secure Nigeria’s long-term economic growth and stability.

Minister of Solid Minerals Development, Dele Alake, made the remarks during the maiden edition of the Solid Minerals Excellence Awards held in Abuja on Thursday.

According to him, the reforms are part of broader efforts aimed at rebuilding the nation’s economy, strengthening institutions and reducing dependence on crude oil revenue.

Alake acknowledged that many Nigerians are currently facing economic hardship as a result of the reforms, but stressed that the policies were necessary to reposition the country for sustainable development and future prosperity.

He explained that the administration’s economic agenda seeks to address structural challenges that have hindered Nigeria’s growth for decades, including corruption, weak governance systems and overreliance on oil earnings.

The minister noted that true leadership requires courage to implement difficult decisions in the interest of national progress, adding that previous administrations had often avoided major reforms due to fear of public criticism and political backlash.

Drawing comparisons with reforms previously carried out in Lagos State, Alake said several policies initially opposed by residents later produced positive economic results, including increased internally generated revenue and improved infrastructure development.

He further identified the mining sector as one of the major pillars of the Federal Government’s diversification drive under the Renewed Hope agenda. According to him, reforms in the sector have already led to improved regulatory compliance, increased investor confidence and stronger actions against illegal mining activities across the country.

The minister reiterated the government’s commitment to implementing policies that would strengthen the economy despite current economic pressures, insisting that the temporary sacrifices would ultimately produce long-term benefits for Nigerians.

The Tinubu administration has in recent months continued to defend key economic measures such as fuel subsidy removal, exchange rate reforms and tax restructuring amid rising inflation and increasing cost of living across the country.