APC USA: Tinubu’s Reforms Showing Strong Results
By Tom Okpe
Chairman, All Progressives Congress, APC, United States of America, USA, Chapter, Professor Tai Balofin, has given President Bola Ahmed Tinubu’s administration a high rating of 85% in a performance scorecard, saying it is yielding impressive results.
According to Balofin, Tinubu’s economic reforms have yielded remarkable results, including a 111.24% growth in the Nigerian Exchange, NGX, and a nearly 500% increase in external reserves, which grew from $4 billion in 2023 to over $23 billion by the end of 2024.
Bolafin who made this known in Abuja on Wednesday at the Party National Secretariat, Buhari House, also, commended President Tinubu’s bold economic policies, describing them as transformative, despite short-term challenges.
He said: “The removal of fuel subsidies, which saved ₦4 trillion, and the unification of exchange rates, which attracted $50 billion in foreign direct investment, FDI, are neccessary to avert a fiscal crisis that could have led to runaway inflation, external debt default, and collapsing the Naira.”
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However, he acknowledged the significant public hardship caused by high inflation, which peaked at 34.19% to 40%, and the Naira’s severe depreciation of approximately 245% since Tinubu took office.
He urged Nigerians to remain patient, emphasizing that the benefits of Tinubu’s reforms are beginning to take hold.
The Chiarman also, compared Tinubu’s performance favorably to his predecessor, Muhammadu Buhari, whose administration grappled with a crippling 2016 recession, stating that Tinubu’s decisive actions have outperformed Buhari’s era in key metrics like stock market growth and reserve accumulation.
The APC USA Chairman’s remarks, comes amid mixed reactions to President Tinubu’s mid-term performance, with opposition groups citing persistent inflation and insecurity as major concerns.
Nevertheless, Balofin’s scorecard underscores the administration’s focus on economic restructuring, even as it navigates the challenges of public discontent.
