Ayo Arise, a chieftain of the All Progressives Congress (APC) and former senator representing Ekiti north, says President Bola Tinubu has implemented bold economic initiatives that are delivering impact despite criticisms from opposition figures.
Addressing journalists in Abuja, Arise said the removal of the petrol subsidy, which attracted widespread criticism, has proved to be a courageous decision that freed public funds for broader national development.
According to him, many Nigerians are now convinced that subsidy removal ended a system that favoured a privileged few at the expense of the wider population.
“As far as I am concerned, from my own position as a businessperson, I say that the decision of Mr President has benefitted a lot of Nigerians,” the former lawmaker said.
“It has been able to move our economic growth positively.
“There were people who would pretend they were importing fuel, collect the subsidy and disappear. Stopping that took a lot of courage.”
He said available data shows that inflation has reduced, and fiscal space has been created to fund key interventions.
“First of all, we know that inflation has come down drastically, and we know that we now have money to fund institutions like NELFUND,” he said.
Arise said the Nigerian Education Loan Fund (NELFund) has expanded access to education for indigent but promising youths.
“The president doesn’t want anybody to say I have been unable to go to school because of school fees,” he said.
“The NELFUND has come to the rescue of many people who otherwise wouldn’t have been able to complete or even start their education up to the tertiary level.”
He said Tinubu’s engagement with academic unions has reduced disruptions in universities.
“Prior to President Tinubu becoming president, students in a four-year programme spent six or seven years,” Arise said.
“Since the president came, attention has been given to demands and grievances of bodies like ASUU and NASU, and we have seen people graduating after four years.”
He said the improvement has helped to curb brain drain.
“People now know that when they start school, they can finish in four years like their colleagues abroad,” he said.
Arise also said Tinubu’s push for local government autonomy is aimed at driving grassroots development.
“The president has insisted that local government funds should stay with the local government for developmental purposes,” he said.
He said direct funding would make local councils more accountable and impactful in rural communities.
“Now the money has become meaningful because of some of the benefits we have been able to see from subsidy removal,” he said.
He said Tinubu’s reforms in the solid minerals sector could unlock new revenue streams, adding that the administration’s reforms are yielding more economic value than critics acknowledge.
“There are solid mineral refineries being created to assist miners to process their products for export,” Arise said.
“As a businessman and as a politician, if we are getting some benefits, people should speak out and say things are getting better.”
