A chieftain of the All Progressives Congress (APC), Senator Ayodele Arise, has lauded President Bola Ahmed Tinubu’s economic reforms saying he has surpassed those of previous administrations and are already laying a solid foundation for sustainable national growth.
Arise, who represented Ekiti North Senatorial District in the Senate between 2007 and 2011, spoke with journalists in Abuja, insisted that the President’s bold initiatives have begun to yield measurable results despite criticism from opposition figures.
He said the removal of fuel subsidy, though initially unpopular, has freed public funds previously captured by a privileged few and redirected them to critical sectors of the economy for the benefit of the wider population.
“From my own position as a businessman, I can say that the decisions of Mr President have benefitted a lot of Nigerians and have moved our economic growth in a positive direction,” Arise said.
He recalled how the fuel subsidy regime was abused through fraudulent importation claims, adding that ending the practice required uncommon political courage.
“Stopping that racket took a lot of courage, and the President stood firmly by his policy,” he noted.
He cited official statistics showing a moderation in inflation and increased fiscal capacity, which, he noted, made the establishment of the Nigerian Education Loan Fund (NELFUND) possible.
According to him, NELFUND has expanded access to tertiary education for indigent but promising youths who might otherwise have been denied the opportunity to further their studies.
“The President does not want any Nigerian to say he or she could not go to school because of fees. NELFUND has come to the rescue of many students who would not have been able to start or complete tertiary education,” he said.
Arise also attributed the improved stability in the university academic calendar to the Tinubu administration’s engagement with staff unions, noting that prolonged disruptions previously contributed to brain drain.
“Before now, students spent six or seven years on four-year courses. Since President Tinubu came in, attention has been given to the grievances of ASUU, NASU and others.
“Students are now graduating on time, and this has helped to significantly arrest brain drain,” he added.
On grassroots development, the former senator commended the President’s insistence on full financial autonomy for local governments, describing it as a major step towards rural transformation.
He said ensuring that local government funds go directly to councils would enhance accountability, stimulate job creation and accelerate development in rural communities where the majority of Nigerians reside.
“The President has been very clear: let local governments have their money. With increased resources from subsidy removal, the funds have now become meaningful and can be used for roads, primary schools, healthcare and other services at the grassroots,” Arise said.
Arise further said the administration is positioning the solid minerals sector as a new revenue frontier, with plans to establish refineries to support miners and boost exports.
“There are many things this administration has done to expand revenue and deepen economic impact. If we are beginning to see improvements, people should speak up and acknowledge that things are getting better,” he said.
