The Minister of Solid Minerals and spokesperson for the All Progressives Congress Presidential Campaign Council (APC-PCC), Dele Alake, has said President Bola Ahmed Tinubu was not in the dark about the likely political consequences of his tough economic policies, but took the firm decisions to save the economy.

Alake made the remarks on Tuesday in Abuja at the unveiling of the party’s 2027 manifesto, tagged “From Reforms to Prosperity.”

Checks revealed that President Tinubu had on May 29, 2023, in his inaugural speech, scrapped the fuel subsidy regime and the multiple foreign exchange market, a decision that has continued to generate strident criticism from leading opposition political parties’ presidential candidates.

Alake, who justified the policies, said President Tinubu’s focus was how to turn around the state of the economy, not the next general elections.

He said: “Regardless of the political consequences, or even the President’s own political situation and aspirations, he carried out genuine structural reforms. And that is the kind of person Bola Ahmed Tinubu is. He does not think of himself; he thinks of the nation, and that is what a statesman should do.

“Ordinary politicians will think of the next election and avoid contentious policies that could probably mar their political aspirations. But not President Bola Ahmed Tinubu, because he puts the nation ahead of himself.

“He did not think, ‘Oh, these policies might bring some pain or challenges or cause some unease among the public, so they could affect my political aspirations. I won’t implement them.’ No, he didn’t do that. He put the nation first, before his own desires. And that’s why he was able to look at those problems straight in the face and confront them.

“He removed fuel subsidy, as you all know. Fuel subsidy had been one of the pillars of Nigeria before 2023. He removed it. Removing fuel subsidy might superficially look simple to everyone, but it is not.”

The spokesperson for the APC-PCC further alleged that individuals who had benefited from the illicit subsidy regime and multiple forex had taken to the media space to demonise the Tinubu administration.

“It takes a man of courage, a man of grit, brains and brawn, to withstand the pressure of the cabal, which would fight back, and they are fighting back over the removal of fuel subsidy.

“The same thing goes for the foreign exchange situation, where we had multiple foreign exchange dynamics and operations.

“Some people, as you all know, would sit in their gardens or backyards without lifting a finger, simply because they had connections with CBN authorities or top government officials. With just a phone call, they would obtain millions of dollars at the official rate and, without leaving their seats in their gardens, send the money to the Bureau de Change. In the twinkle of an eye, they would become billionaires while sitting in their backyards, making no contribution to production in the economy to shore up the naira. And, of course, the result, as you all knew, was a free fall.

“President Bola Ahmed Tinubu looked that problem in the face, confronted it and normalised the situation.”

In his presentation, the Minister of Budget and Economic Planning, Atiku Bagudu—incidentally the Chairman of the APC 2027 Manifesto Unveiling Committee—declared that the economic reforms of President Tinubu, despite negative reactions from certain opposition political parties, have earned the applause of the private sector.

“All of us, the ministers, alongside the Vice President, have reason to be proud of the last Nigerian Economic Summit. This is because the private sector unanimously acknowledged that Mr President had delivered on the promises he made. They are doing well, announcing investments in Nigeria commensurate with what he promised and what he has delivered.

“But, as we all know, even before anybody tells him, Mr President acknowledges that we have done well. However, until we deliver and ensure that every Nigerian feels the impact of prosperity, especially hardworking Nigerians and those who need support, we still have work to do.”

The Minister of Budget and Economic Planning also noted that the country has, in the last three years, recorded sustained economic growth, with inflation declining and the exchange rate showing signs of improvement despite prevailing economic challenges.

“But Mr President has been humble enough to acknowledge that, in addition to all the initiatives we have introduced to extend prosperity to various sectors of the economy, his team must do more.

“I just want to assure you that all of us, particularly those of us working for Mr President, are proud believers in his strategies. We believe in them, not against our wishes. We own them, and that is something other parties do not have.”

He also assured the gathering of senior journalists and APC faithful that Tinubu remained committed to ensuring structural reforms of the economy with lasting impacts that will reach the average Nigerian.

“But the APC manifesto for our President does not end with a team. The manifesto belongs to all Nigerians who are members of his team and believe in the profundity of his message.

“What you are going to see certainly includes some elements that you have already seen, as well as a broader vision. For Mr President, if Brazil can become a $2tn economy, why can’t Nigeria?

“So, Mr President, without being influenced by any outsider, said we should confront our reality and address these challenges. As I have said, he was not concerned about the next election but about prosperity.

“Indeed, we are seeing the benefits of having a leader who has a profound understanding of what Nigeria can become and is courageous enough to lead us towards that reality.”

Also speaking, the Minister of Information, Mohammed Idris, urged Nigerians to indulge in an honest, dispassionate appraisal of the impact of the present administration’s policies, as he maintained that the administration has made remarkable impacts in all spheres.

“Many times, people keep saying that, yes, we are saying all these reforms are happening, but only a few people are benefiting from them. And I ask this question: When the road between Abuja and Kano is being constructed, I am not aware that anybody needs to show his ID card to prove that he belongs to the APC, he is a rich man or belongs to a particular class before he can use it.

“We also seem to forget that if you are doubting whether President Bola Ahmed Tinubu is doing anything about security, there are practical examples to consider.

“I use this example all the time. Between Abuja and Kaduna, where I live, we had a situation where nobody could just pick up his car keys and begin to ply that road without asking questions such as: “Are they there today? In other words, are the bandits or those stopping and waylaying people on the road still there?

“Today, nobody asks such questions. You take your car from here to Kano without asking whether terrorists, bandits, kidnappers or whoever was operating along the road is still there. This was not the situation before.

“If, as Chief Dele Alake said, you are looking for an example of how these reforms are actually touching the lives of ordinary Nigerians, consider the 1.6 million Nigerians who, as he has said, are benefiting from NELFUND. They did not come from another planet. They are Nigerians living within the shores of this country.

“What President Bola Ahmed Tinubu sought to address is the situation where a young man or woman who has the qualifications and merit to gain admission into a higher institution is unable to do so simply because his or her parents or guardian cannot afford not just the tuition fees but also the cost of upkeep.

“So, if you are looking for an example of Nigerians benefiting from these reforms, the 1.6 million young men and women and their parents are there. Nobody asks questions about their political affiliation. Nowhere in the portal are applicants required to be sons or daughters of rich people or members of the APC before they can benefit from the Federal Government’s NELFUND intervention.” (Tribune)