Former Speaker of the Abia State House of Assembly, Rt. Hon. Engr. Chinedum Orji, has expressed optimism that President Bola Ahmed Tinubu’s economic and social policies will play a crucial role in addressing Nigeria’s current challenges and repositioning the country for sustainable growth. Speaking during an interactive session with journalists, Orji emphasized that although some of the policies may seem tough in the short term, they are necessary for long-term stability and prosperity.
One of the most significant policies of the Tinubu administration is the removal of fuel subsidies, a move that has sparked debates across the country. Orji acknowledged the hardship caused by the policy but maintained that it was a step in the right direction.
“The removal of fuel subsidies was necessary to free up funds for critical development projects,” he explained. “For years, Nigeria has spent billions of dollars subsidizing fuel at the expense of infrastructure, education, and healthcare. While the impact is tough now, it will allow for better allocation of resources in the long run.”
Orji urged the government to implement measures that would cushion the effects of subsidy removal, such as improving public transportation, supporting small businesses, and increasing the minimum wage to help Nigerians cope with the rising cost of living.
Orji also praised the administration’s decision to unify Nigeria’s foreign exchange rates, a move aimed at reducing market distortions and attracting foreign investment. He described it as a crucial step toward a more transparent and investor-friendly economy.
“For years, multiple exchange rate windows created opportunities for manipulation and corruption,” Orji noted. “Now, with a single exchange rate system, businesses and investors can operate in a more predictable economic environment. This will boost investor confidence, strengthen the naira over time, and create more jobs.”
However, he advised the government to ensure that proper fiscal policies accompany the exchange rate unification to prevent excessive inflation and economic instability.
In his remarks, Orji commended Tinubu’s administration for prioritizing infrastructure development, particularly in transportation and energy. He pointed out that ongoing investments in road construction, railway expansion, and power sector reforms would have a lasting impact on Nigeria’s economic growth.
“The key to industrialization and economic progress is a strong infrastructure network,” Orji stated. “Improved roads and railways will facilitate trade, reduce the cost of goods, and enhance productivity. Additionally, stable electricity supply will boost manufacturing and create thousands of jobs for our youths.”
He encouraged the government to continue investing in these sectors while also ensuring transparency and accountability in project execution to prevent waste and mismanagement.
Orji further highlighted the importance of supporting Nigeria’s agricultural sector, which remains a major source of employment and food security. He called on the Tinubu administration to provide incentives to farmers, invest in mechanized farming, and enhance value chain processing to increase food production and reduce dependence on imports.
“The agricultural sector has the potential to drive Nigeria’s economic diversification,” he said. “With the right policies in place, we can reduce food prices, create more jobs, and improve our foreign exchange earnings through agricultural exports.”
He also acknowledged the role of the digital economy in Nigeria’s future, urging the government to support the growth of tech startups, fintech companies, and digital entrepreneurship. “Technology is the future, and Nigeria must harness its potential to compete in the global market,” Orji emphasized.
Despite his support for these policies, Orji stressed the need for a human-centered approach to their implementation. He urged the federal government to prioritize the welfare of Nigerians by introducing social intervention programs, supporting small businesses, and improving access to affordable healthcare and education.
“These policies are promising, but their success depends on how they are executed,” Orji warned. “The government must ensure that ordinary Nigerians are not left behind. There should be targeted relief measures to help vulnerable citizens cope with the economic adjustments.”
He expressed hope that with the right leadership and commitment to implementation, Tinubu’s policies would help Nigeria overcome its current economic difficulties and lay the foundation for a prosperous future.
He urged political leaders at all levels to put the interest of the people first, calling for unity, transparency, and a renewed sense of purpose in addressing the nation’s challenges.
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