Tinubu Rescued Nigeria from Economic Collapse, Restored Stability with Bold Reforms, Says Fasuyi

Senator Cyril Fasuyi, Chairman of the Senate Committee on the South West Development Commission, declared that President Bola Ahmed Tinubu rescued Nigeria from economic collapse by implementing bold reforms that have restored economic stability, according to a report by Gbenga Sodeinde in Ado Ekiti. Fasuyi made this assertion during a stakeholders' engagement in Ekiti State, where he defended the economic policies of the Tinubu administration.

He explained that the administration inherited an economy facing severe challenges, including fuel subsidy payments, multiple foreign exchange windows, diminishing public revenues, mounting debt obligations, and dwindling investor confidence. Nigeria, Fasuyi warned, was teetering on the edge of an economic catastrophe. However, President Tinubu made politically challenging but economically essential decisions by eliminating the fuel subsidy, unifying the foreign exchange market, and enacting structural reforms to restore fiscal discipline, rebuild investor confidence, and lay the groundwork for long-term national prosperity.

Fasuyi acknowledged that these reforms caused temporary hardship for many Nigerians but insisted that they averted a far more severe economic disaster. He stated that without these decisive actions, Nigeria would have been engulfed in a deeper economic crisis. The new stability in the economy, improved government revenues, and a gradual revival of investor confidence demonstrate the success of these reforms, Fasuyi added.

The senator urged Nigerians to be patient with the administration, expressing confidence that the benefits of the reforms would become increasingly apparent as implementation continues and the economy rebounds. Fasuyi concluded by asserting that history would remember President Tinubu as a leader who took bold actions during a critical time to avert economic collapse and steer Nigeria toward recovery and sustainable development.

During the same engagement, Dr. Isa Yuguda, the National President of the APC Professionals’ Forum, praised the Tinubu administration for pursuing reforms despite the political risks. He encouraged Nigerians to support policies designed to secure the country's long-term economic future, emphasizing that the Renewed Hope Agenda is dedicated to building a stronger, more competitive, and resilient economy capable of delivering inclusive growth and improving the living standards of all Nigerians.