Abia State Governor, Alex Otti, has commended President Bola Tinubu for removing the fuel subsidy and floating the naira, describing the decisions as bold reforms that required courage despite their immediate economic consequences.
Otti made the remarks on Tuesday while receiving the First Lady, Senator Oluremi Tinubu, during her visit to Abia State to celebrate and promote the historic Akwete weaving heritage in Ukwa East Local Government Area.
Addressing the First Lady, the governor asked her to convey his appreciation to the President for what he described as difficult but necessary economic decisions.
“I want you to please thank him. Thank him for his courage. Thank him for his sacrifices. Some people may not understand. It takes a man with courage to do what he did in 2023, remove petroleum subsidy, and followed suit with the floating the naira,” Otti said.
The governor argued that the reforms had significantly increased revenues available to the federal, state and local governments, enabling them to fund development projects and meet key obligations.
“What has that done? That has freed up a lot of funds that would have been used in financing consumption to doing other things in the federal government, in the states, and in the local governments. And today, a lot of states are now paying salaries. A lot of states are able to build infrastructure. A lot of states are able to empower people to produce rather than consume,” he said.
Otti, however, acknowledged that the reforms came with short-term economic pains, saying such outcomes were inevitable whenever governments implemented far-reaching policy changes.
“Now, make no mistakes about it. Every courageous decision, every courageous action, has its own consequences. So, if you remove subsidy and if float the naira, it will take its toll, and over time, the economy will begin to correct,” he said.
He maintained that the hardship currently experienced by many Nigerians should be viewed as the consequence of years of unsustainable economic practices rather than the reforms themselves.
“So, what you see that people interpret as hardship today are the fallouts of previous behavior,” the governor added.
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