Nigeria’s Economy on Recovery Path Under Tinubu, Erondu Jnr Declares

The All Progressives Congress (APC) Candidate for Abia South Senatorial District, Erondu Uchenna Erondu Jnr, has commended President Bola Ahmed Tinubu on his third anniversary in office, describing the administration’s economic reforms as bold and necessary measures that are helping to stabilise Nigeria’s economy.

Erondu Jnr, who represents Obingwa-West State Constituency in the Abia State House of Assembly, made the remarks during a national television interview while assessing the President’s three years in office.

According to the lawmaker, managing a country as large and complex as Nigeria comes with enormous challenges, but the Tinubu administration has recorded significant progress in addressing economic instability and strengthening fiscal governance.

He noted that the administration’s policies have enhanced fiscal federalism by increasing financial resources available to states and local governments, thereby improving their capacity to deliver development projects and essential services.

The former Chairman of Obingwa Local Government Area further stated that the reforms being implemented by the Federal Government are laying a solid foundation for long-term economic growth, stability, and national development.

Commenting on the recently concluded APC primaries, Erondu Jnr described the exercise as one of the freest and fairest internal elections conducted by the party in recent years. He praised the APC leadership for promoting internal democracy through the direct primary system, which he said allowed party members to freely elect candidates of their choice.

He explained that the Abia South Senatorial primary was conducted simultaneously across the district’s 65 electoral wards, with party members turning out in large numbers to participate in the process.

Erondu Jnr attributed his victory in the primary election to his longstanding relationship with constituents and years of grassroots empowerment and community development initiatives.

The lawmaker, however, condemned the alleged hijacking of election materials in some areas during the primaries, describing the incident as regrettable and contrary to democratic values. He maintained that President Tinubu remains committed to credible electoral processes and internal democracy within the APC.

Meanwhile, President Bola Ahmed Tinubu has defended the economic reforms introduced by his administration, insisting that they were necessary to prevent Nigeria from sliding into economic collapse.

In a nationwide broadcast marking the third anniversary of his administration, the President said he inherited an economy weighed down by fuel subsidy obligations, exchange rate distortions, rising debt burdens, declining revenues, and worsening insecurity.

Tinubu stated that the removal of fuel subsidy and other difficult policy decisions were aimed at restoring fiscal stability and repositioning the economy for sustainable growth. He noted that Nigeria spent as much as ₦18.4 billion daily on petrol subsidies at the peak of the regime, amounting to over ₦4 trillion in 2022 alone.

According to the President, sustaining the subsidy programme would have deprived critical sectors such as infrastructure, healthcare, education, and housing of much-needed funding.

While acknowledging the hardship experienced by Nigerians as a result of the reforms, Tinubu maintained that the measures are beginning to yield positive outcomes and are setting the country on the path to long-term economic recovery and prosperity.