The Deputy Senate President, Barau Jibrin, has said the economic policies of President Bola Tinubu have started yielding positive results across various sectors despite the increasing hardship and rising costs of living in the country.
Mr Jibrin said this in a statement by his Special Adviser on Media and Publicity, Ismail Mudashir, on Tuesday.
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He said the Tinubu administration assumed office at a time when the global economy was negatively impacted by international conflicts such as the Russia-Ukraine war and the Israel–Palestine crisis.
The deputy senate president said these conflicts were significantly responsible for the increase in the cost of goods and services across the world.
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“In the past decades, all spheres of our country—power, road infrastructure, agriculture, education, health, water, housing, and others—have been begging for genuine attention.
“This is coupled with the fact that this government came on board at the time that the entire world economy was and is still quite turbulent due to the high cost of basic goods and services all over the world arising from the Russia-Ukraine and Israel–Palestine wars. Nigeria is certainly not an exception.
“The good news is that the president is genuinely committed to addressing these challenges. Fresh air is already permeating all the country’s spheres, nooks and crannies to the admiration of lovers and good people, irrespective of differences and persuasions,” he said.
Nigeria is experiencing its worst cost-of-living crisis due to government policies like removing petrol subsidies and floating the naira. These policies have seen food prices increase by over 200 per cent without a commensurate increase in earnings, thus driving more people to poverty in Africa’s most populous country.
Although the federal government recently raised the National Minimum Wage from N33,000 to N70,000, many have argued that it is insufficient, considering the soaring prices of basic necessities.
Government policies have also forced many foreign companies, especially manufacturers and energy firms, to cease operations in Nigeria.
Most cited the foreign exchange challenges and devaluation of the naira, which means foreign companies are losing in dollar terms. The companies also cited insecurity and lower revenue as reasons for leaving the country.
Some manufacturing companies that have discontinued operations in Nigeria are GlaxoSmithKline (GSK), Procter & Gamble (P&G), Sanofi, a French multinational pharmaceutical company and Equinor, a Norwegian oil firm.
Laying foundation for prosperity
Mr Jibrin acknowledged increasing hardship in the country but argued that the reforms are laying a foundation for Nigeria’s sustainable growth.
“The direction is clear, and the foundation is correctly and solidly laid for our country’s transformation and prosperity,” he stated.
Improved security
The deputy senate president also noted that security has improved in the country.
According to him, the country has made progress in the fight against terrorism and banditry, including the neutralisation of hundreds of terrorists in the North-west and as well a reduction in kidnappings along the once-dangerous Abuja–Kaduna expressway.
“For instance, admirable success has been recorded in the area of security. Hundreds of terrorists have been neutralised in the North-west geopolitical zone. Yes, there are pockets of cases of kidnapping and attacks, but they are minimal compared to before the coming of this administration. The instances of incessant kidnappings on the Abuja-Kaduna road have become history,” he said.
Mr Jibrin also noted that terrorism activities in the South-east have been reduced and expressed confidence in the Nigerian military ability to neutralise the resurgence of Boko Haram in Borno State.
“In the South-east, the activities of unknown gunmen terrorising the region have been on the downward side. In the North-east, Boko Haram was almost completely eradicated until the recent attacks in some parts of Borno State.
“I am confident that our gallant members of the armed forces will act decisively to smoke them out permanently. The people of the remaining five states in the North-east live peacefully and conduct their lawful businesses—commendation to our gallant officers and men of the armed forces and other sister security agencies,” he said.
Economic development initiatives
Mr Jibrin also referenced the Special Agro-Industrial Processing Zones (SAPZ) as a significant initiative to industrialise agriculture, reduce post-harvest losses, and revitalise rural economies.
The first phase of the project includes eight states: Kaduna, Kano, Kwara, Cross River, Imo, Ogun, and Oyo, as well as the Federal Capital Territory (FCT).
“With the enhanced peace across the country, the federal government has recently launched phase one of the Special Agro-Industrial Processing Zone (SAPZ) to revolutionise and industrialise the agricultural sector. SAPZ aims to transform Nigeria’s agriculture landscape through innovation, private-sector investments and strategic public partnerships.
“The zones are designed to create agro-industrial hubs that integrate farmers with processors, reduce post-harvest losses and expand rural economic opportunities. Seven states, namely Kaduna, Kano, Kwara, Oyo, Ogun, Imo, Cross River, and Federal Capital Territory, have been selected for phase one, while Bauchi, Borno, and Gombe are listed for phase 2,” he said.
He expressed optimism that the establishment of the regional developmental commissions would significantly contribute to the development of the country’s regions.
“With President Tinubu’s establishment of the development commissions, we will witness unprecedented development at the grassroots level,” he said.
Mr Jibrin also applauded the reactivation of abandoned infrastructure projects like the Abuja–Kaduna–Kano expressway.
“Also, the Abuja—Kaduna—Kano highway reconstruction, which dragged on for eight years under the last administration, has been flagged off and is receiving the needed attention,” he said.
Education reforms
On education, the deputy senate president commended the establishment of the Nigerian Education Loan Fund (NELFUND), which provides financial support for students in higher education.
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“President Tinubu has been working genuinely to correct the fiscal misalignments. He has attracted foreign direct investments worth billions of dollars, paid the forex backlog and cleared the ways and means of the trillion naira he inherited from the last administration.”
He called for unity and support for the Tinubu administration.
“To this end, I urge all to give maximum support to the government to continue with these people-oriented and pro-masses initiatives conceived to take our country to El Dorado.
“The Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu, GCFR, has laid the foundation for Nigeria’s prosperity. Let’s support him. We have no other country than the Federal Republic of Nigeria. We are, by the grace of God, on the path to prosperity,” Mr Jibrin said
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