Industrialist Livinus Okwara believes the policies and reforms introduced by President Bola Tinubu’s administration will positively impact the economy and the business community in 2025.

Speaking in Lagos, Okwara acknowledged that while some business owners were initially uncomfortable with the policies, especially those that seemed to negatively affect them, he is confident that the long-term benefits will outweigh the challenges.

“We expect the different policies the administration introduced last year to work,” Okwara said. “Although some of these policies may be difficult to understand, they are ultimately aimed at improving the economy.”

He praised the government’s efforts so far but raised concerns about the consistency of policies and reforms. Okwara stressed that these reforms were necessary to address key issues such as inflation, high interest rates, business closures, job losses, and persistent challenges in power supply, national security, and food production.

“2024 was a year of policy changes meant to correct practices and improve the economy. Business owners will start to reap the benefits of these reforms in 2025,” he said.

Okwara emphasized that the administration’s goal is to transform the business environment to boost economic growth. He believes the reforms will help stabilize the exchange rate and bring prices and markets back to normal.

“I remain optimistic,” he added. “The president has assured that the government will repay citizens through massive investments in transportation, education, healthcare, and other public services that will enhance the quality of life.