Tinubu’s Reforms Have Stabilised Economy, Says Peter Mbah

Enugu State Governor, Peter Mbah, has declared that President Bola Tinubu’s bold economic reforms have brought stability to Nigeria’s economy, urging citizens to remain patient as the benefits of the policies gradually take root. Speaking during his Independence Day message, Governor Mbah commended the Federal Government for taking decisive steps to correct long-standing distortions in the economy. According to him, measures such as the removal of fuel subsidies, the unification of foreign exchange rates, and fiscal discipline are already yielding results, despite the short-term hardships faced by citizens. The governor maintained that while Nigerians continue to endure rising living costs, the reforms have helped restore macroeconomic stability, strengthen foreign reserves, and improve government revenue. He noted that sacrifices demanded of citizens are painful but necessary for sustainable growth, adding that the country must remain united and focused on long-term economic transformation. Recent economic data lend support to his position. Headline inflation, though still high, has shown signs of moderation, while Nigeria’s foreign reserves have risen significantly, climbing above $40 billion by late 2024. Fiscal deficits have narrowed, and GDP growth has picked up momentum in non-oil sectors, giving analysts cautious optimism about Nigeria’s medium-term outlook. However, the reforms have also sparked widespread public concern, with high food and transport costs straining households. Critics argue that the benefits of the policies are yet to trickle down to ordinary Nigerians, while international observers warn that stabilisation remains fragile. Mbah, nevertheless, insisted that the administration is on the right track, calling for patience and resilience. He said the current sacrifices will ultimately pave the way for inclusive growth, job creation, and greater prosperity if reforms are sustained with consistency and transparency. His comments echo similar assessments from international bodies, including the World Bank and IMF, which have described Nigeria’s recent economic steps as necessary but emphasised the need for stronger social safety nets to cushion the impact on vulnerable citizens. As the debate continues, Governor Mbah’s message reinforces growing political support for the Tinubu administration’s economic course, projecting optimism that the country’s reforms will eventually yield tangible relief for its people.