“I ask people to give me one example of a country in a modern era that has transitioned from being a poor country to a prosperous country in 36 months,” he said, referencing China’s long-term reforms, Rwanda’s development trajectory under Paul Kagame, and Dubai’s multi-decade transformation.

“One of the things that we are going through that is causing our current pain is because some sacrifices that were meant to have been done years ago weren’t done,” he added.

He also referenced former Finance Minister Ngozi Okonjo-Iweala’s warning that Nigeria was “broke” and said earlier removal of fuel subsidy would have prevented today’s economic strain, arguing that current reforms are aimed at long-term stability.