‘Nigerians Are Paying for Past Mistakes’ — Gov Alex Otti Defends Tinubu’s Economic Reforms

• Abia State Governor Alex Otti has defended President Bola Tinubu’s economic reforms, saying the hardship currently experienced by Nigerians is the result of years of poor economic decisions.

• Otti praised Tinubu’s “courage” in removing the fuel subsidy and floating the naira, insisting the reforms were necessary despite their short-term impact.

Abia State Governor, Alex Otti, has defended President Bola Ahmed Tinubu’s economic reforms, arguing that the hardship currently experienced by many Nigerians is the result of years of poor economic decisions rather than the President’s policies.

Otti made the remarks on Tuesday while receiving Nigeria’s First Lady, Senator Oluremi Tinubu, who visited Abia State to celebrate the state’s Akwete weaving heritage.

Speaking during the event, the governor asked the First Lady to convey his appreciation to President Tinubu for what he described as difficult but necessary economic decisions taken since assuming office.

“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 Abia governor maintained that the removal of fuel subsidy and the floating of the naira had significantly increased the revenue available to the federal, state and local governments, allowing them to fund infrastructure projects, pay salaries and invest in economic development.

“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 stated.

While acknowledging that the reforms have caused short-term economic difficulties, Otti said such consequences were inevitable whenever governments implemented bold 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.

The governor insisted that Nigerians should not blame the current economic hardship solely on the ongoing reforms, arguing that the challenges stem from years of unsustainable economic practices.

“So, what you see that people interpret as hardship today are the fallouts of previous behavior,” Otti added.