Tinubu’s policies, reshaping Nigeria’s economy says NSC Boss, Akuta

The Executive Secretary, ES Nigerian Shippers Council, NSC Dr. Pius Akuta has lauded president Bola Tinubu for taking some policy directions that are reshaping the nation’s economy.

He noted that the president has kept his campaign promises to the people by removing fuel subsidy, a decision he admitted met with mass criticism even in the media, but said the impact is being felt now as proceeds from the policy are being invested in infrastructure

Akuta spoke Tuesday in Abuja during an interactive session with an umbrella body, the Conference of Benue Journalists, CBJ where he described the media as the conscience of the society

“Let me talk about the economy, because that’s where I am playing a role. You will see what the president is doing with the economy. When he took over, you know what the foreign reserves were and you know what it is today. There is significant growth.

“The very first day, he took a very bold initiative to remove fuel subsidy, which many of you have written and condemned in the past. Of course, all the presidential candidates at that time, promised to remove the fuel subsidy but, for this President, he has displayed that capacity to do what he said. So, he kept his campaign promise by removing the subsidy. We don’t know if other people would have had the courage to go ahead and remove it.

“You know that at the time the President removed subsidy it was very important. A lot of people challenged it. Even some journalists wrote against it, because of the hardship that Nigerians were experiencing but today, you can see that there is an improvement in our infrastructure” he said

The ES acknowledged that there was hardship, adding “for the president to stick to that policy decision and not reverse it has brought a lot of gains in the way government business is being funded today. Even at the sub national levels. You know that state government has more money now, local governments have more money due to that policy direction”

He commended president Tinubu for the initiative which he noted has put more money at the sub national level for capital projects to spring up. “We are seeing many states executing many projects, capital projects, huge infrastructural developments going on in so many states”

He recalled the President’s visit to Benue State where he made reference to the Governor of Plateau State, a PDP state, saying for the President to have acknowledge what development the governor is carrying out in the state means that he is eager to see the country developed in terms of infrastructure.

“So, it doesn’t matter whether you are in his party, but the moment you are doing the right thing, he will stand with you, and he acknowledged that publicly” Akuta said

Giving a mid term assessment of the Tinubu administration, Akuta recalled that the nation’s Gross Domestic Product, GDP was at one point something percent with a sluggish growth before President Tinubu assumed office.

“But you can see that the economy is moving now. You know that the concept of GDP is how much money the government is spending. So, because there is so much money coming in from that singular policy, that withdrawal of fuel subsidy alone, so much money came in and stimulated the economy, and we started to see the GDP moving faster than it was moving in the years behind. So, in two years now, we have gone very far”

The creation of the Ministry of Marine and Blue Economy according to Akuta was also a very bold policy decision to remove Marine and Blue Economy from the Ministry of Transportation and specialize it, looking beyond the marine economy, but into the blue ocean.

“This is a global economy of multi-trillion dollars. Nigeria was not taking advantage of that. We have countries that have matured blue economy, countries like Canada. Even in Africa, here, you have some countries that have practiced blue economy for some time.

“Nigeria having vast ocean resources, its very unfortunate that over the years, we neglected it, even what we have in our ocean as resources, we do not explore it but today, with His Excellency, Oyetola Adegboyega as Minister of Marine and Blue Economy, that national policy on Marine blue economy has led us into the first national policy on marine and blue economy. That national policy is issued and is out there. He is realigning the ministry and the agencies in the sector towards a very sustainable economic development” he said.