Oduwole Says Tinubu’s Economic Reforms Yielding Results

By Adedapo Adesanya

The Minister of Industry, Trade and Investment, Mrs Jumoke Oduwole, has defended President Bola Tinubu’s economic policies, saying the gains of the administration’s reforms are already becoming visible despite the high cost of living.

Mrs Oduwole made this known on Wednesday during an interview on Channels Television’s Politics Today, where she acknowledged the economic consequences of fuel subsidy removal in 2023 but maintained that the policy was necessary to address longstanding structural challenges.

She said the administration had laid the foundation for economic recovery through reforms targeting inflation, foreign exchange stability and other macroeconomic challenges.

According to her, while Nigerians are still experiencing economic hardship, the impact of the reforms is gradually being felt.

“Yes, we are also Nigerians, and we know that this is the time you have to just stay through, and it’s already coming down. Prosperity is already flowing,” she said.

The trade minister also argued that Nigeria’s economy had been stabilised, adding that the country had demonstrated resilience in the face of global economic shocks.

She said Tinubu had shown the courage to implement difficult economic reforms, noting that four of the eight pillars of his Renewed Hope Agenda were focused on the economy.

Mrs Oduwole acknowledged that more work was needed, particularly in the power sector, but maintained that the administration had recorded progress in infrastructure development and other areas.

On the administration’s promise to create one million information and communications technology jobs within 24 months, she said the Ministry of Communications and Digital Economy had provided a significant number of jobs in the sector.

She also listed the Nigerian Education Loan Fund (NELFUND), consumer credit programmes and increased infrastructure development among the administration’s achievements.

Mrs Oduwole further said the government had encouraged local production and exports, urging Nigerians to produce more of what they consume.

She expressed confidence that history would judge Tinubu favourably, saying his administration had taken decisions it believed were necessary for the country’s economic development.