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A development economist and former Managing
Director/Chief Executive Officer of NIRSAL, Aliyu Abdulhameed, has expressed
strong support for the economic reforms introduced by President Bola Ahmed
Tinubu, stating that Nigeria’s economy is on a path to sustainable growth.
Delivering a keynote presentation titled
“President Bola Ahmed Tinubu’s Economic Policies and Key Reform Achievements:
The Case for His Government’s Continuity till 2031,” Abdulhameed noted that the
present administration’s programmes and policies are gradually reshaping the
country’s economic future.
He emphasized the importance of policy
continuity, arguing that extending Tinubu’s administration would allow Nigeria
to fully realize the long-term benefits of ongoing reforms.
According to him, key policy measures such as
the removal of fuel subsidies, exchange rate unification, and increased
investments in infrastructure and power are critical to transitioning Nigeria
toward sustained and inclusive economic growth.
He added that the long-term impact can only
be assessed over time, the economic policies and projects are already creating
significant impacts across all sectors of the Nigerian economy.
The economist acknowledged that the removal
of fuel subsidies initially posed challenges, but noted that it has reportedly
saved the country hundreds of billions of naira monthly, while also reducing
corruption and fuel smuggling.
He further highlighted major infrastructure
projects, including the Lagos-Calabar Coastal Highway and the
Keffi-Akwanga-Lafia-Makurdi road, as evidence of the administration’s
commitment to national development.
Abdulhameed also commended the signing of the
Electricity Act 2023, noting that it has decentralized the electricity sector
and empowered states to generate and distribute power independently, thereby
improving supply.
Providing economic indicators, he cited
reports from the World Bank showing that Nigeria recorded its fastest economic
growth in nearly a decade in 2024, attributing the performance to early gains
from the administration’s macro-economic reforms.
He posited that the country’s fiscal deficit
declined significantly, while national revenue saw substantial growth within
the same period. Trade balance, oil production, and foreign reserves also
recorded notable improvements between 2023 and 2025.
On the power sector, Abdulhameed stated that
average electricity generation has increased from about 4,000 megawatts before
May 2023 to over 6,000 megawatts.
He stressed that the Tinubu administration is
defined by measurable outcomes rather than rhetoric, citing progress in
economic stability, infrastructure development, social investment, and national
security.
The economist concluded by urging Nigerians
to support the administration’s “Renewed Hope Agenda,” emphasizing that
continuity in leadership would be vital to achieving the full impact of the
government’s economic and development policies.