Afegbua: Tinubu Yet to Fulfil All 2023 Promises, But Economy Has Improved

Edo State Commissioner for Information, Kazeem Afegbua, has acknowledged that President Bola Tinubu has not delivered on all his promises from the 2023 presidential campaign but argued that his administration has made progress in improving the economy.

Afegbua made the remarks during an interview on ARISE News’ Morning Show on Sunday, where he assessed the President’s performance ahead of discussions on the All Progressives Congress’ (APC) manifesto for the 2027 elections.

The APC chieftain said that although some campaign commitments remained unfulfilled, Tinubu had introduced policies that added value to the economy.

“Tinubu may have promised something in 2023 and not being able to fulfill them, but he has made a lot of remarkable improvement,” he said in essence, arguing that the president has added value to the economy.

He cited the removal of the petrol subsidy as one of the administration’s major early decisions, noting that Tinubu moved to address longstanding problems in the petroleum sector immediately after assuming office.

Afegbua also pointed to the administration’s economic growth projection of six per cent, arguing that improved macroeconomic stability and greater predictability in the foreign exchange market would help local and foreign investors plan their activities.

He listed the establishment of the Nigerian Education Loan Fund (NELFUND), which provides financial support for students, and the devolution of power to local governments, which now receive allocations directly from the Federation Account, as other achievements of the administration.

The commissioner expressed optimism that sustaining the current economic policies over the next four years would help translate improvements at the microeconomic level into broader benefits for Nigerians.

“So, our projection is six percent and we are hoping that every other thing being equal, since he has started the last three and a half years, looking at the micro-economic stability, we can predict the dollar as it were and that’s also helping investors both local and foreign plan for their own economic engagement. 

“We have put in place NELFUND to help indigent students through university education, we have devolved power to the local government level, and they enjoin allocation from the federation account. 

“So, by the time we continue on this trajectory, the chances are that by the next four years we will have a better process of translating what we have at the micro level to the macro level and that will be for the benefit of Nigerians,”Afegbua said.  

Tinubu assumed office in May 2023 and introduced major economic reforms, including the removal of the petrol subsidy and the floating of the naira.

While supporters of the reforms have pointed to improved government revenue and investment prospects, critics have highlighted the rise in living costs and inflation that followed.