Akpabio Declares Tinubu Inherited a 'Foamy Economy' from Predecessor
Senate President Godswill Akpabio has publicly stated that President Bola Ahmed Tinubu assumed office in 2023 to inherit what he described as a 'foamy economy', indicating a struggling and unstable financial situation. Akpabio made these remarks during the inauguration of the All Progressives Congress convention sub-committee on programmes and events in Abuja on Friday, March 13, as detailed in a statement released by Jackson Udom.
National Assembly Pledges Unwavering Support for Tinubu's Agenda
In his address, Akpabio emphasized that the National Assembly of Nigeria will continue to robustly back the administration's comprehensive reform agenda. 'The National Assembly will continue to support the agenda of the President Tinubu-led government in his efforts towards taking the country out of the woods,' he affirmed. This commitment underscores the legislative body's alignment with the executive's strategic direction.
Difficult Decisions Taken to Stabilize the Economy
Akpabio, who previously served as a minister under former president Muhammadu Buhari, elaborated that Tinubu confronted a precarious economic landscape upon taking office. To address this, the president implemented several challenging yet essential measures:
- Harmonization of the exchange rate to unify and stabilize currency valuations.
- Removal of the fuel subsidy, which Akpabio characterized as a significant drain on national resources.
- Introduction of tax reforms through the National Revenue Service to boost government earnings, particularly from the non-oil sector.
These actions, according to Akpabio, were necessary to lay a foundation for economic recovery and growth.
Positive Outcomes and Political Implications
The Senate president highlighted that these reforms have already yielded tangible benefits, including increased allocations to sub-national governments, thereby enhancing fiscal federalism. Furthermore, Akpabio linked the recent wave of defections by opposition politicians into the APC to a growing confidence in Tinubu's policies. 'The recent defection into the ruling APC is simply a show of gratitude based on what the administration has achieved since 2023,' he asserted, suggesting that the administration's efforts are garnering broader political support.
Contrast with Previous Praise for Buhari
Akpabio's current assessment stands in stark contrast to his past commendations of former president Muhammadu Buhari. In May 2022, Akpabio praised Buhari by stating, 'Buhari is the best president Nigeria could ever have at a time of difficult circumstances.' This shift in rhetoric highlights the evolving political narrative and the focus on the current administration's challenges and achievements.
