Tinubu Rescued Nigeria from Economic Collapse, Restored Stability with Bold Reforms, Says Fasuyi - THISDAYLIVE

The Chairman of the Nigerian Ports Authority (NPA), Senator Dayo Adeyeye, has defended President Bola Tinubu’s economic reforms, declaring that the administration rescued Nigeria from the brink of economic collapse and restored stability through difficult but necessary policy decisions.

Adeyeye, who acknowledged the economic hardship being experienced by many Nigerians, argued that the removal of fuel subsidy and the unification of the foreign exchange market prevented what he described as an imminent fiscal breakdown that could have plunged the country into bankruptcy.

Speaking with journalists in Ado-Ekiti on Wednesday while assessing the political and economic landscape ahead of the 2027 general election, the former senator maintained that although the reforms came with short-term pains, they had laid the foundation for long-term economic recovery and sustainable growth.

According to him, Nigeria inherited a fragile economy in May 2023, burdened by an unsustainable fuel subsidy regime, severe foreign exchange distortions, dwindling government revenues and recurring fuel shortages.

He said Tinubu’s bold decisions ended years of economic leakages and restored confidence in key sectors of the economy.

“We all know Nigerians are passing through difficult times, but these reforms saved the country from economic collapse. The subsidy regime had become unsustainable, while the multiple exchange-rate system only enriched a privileged few at the expense of ordinary Nigerians,” Adeyeye said.

He recalled that before the reforms, motorists spent hours in filling stations while black-market fuel dealers thrived, stressing that despite higher pump prices today, fuel had become readily available across the country.

The NPA chairman also argued that the unification of the foreign exchange market eliminated widespread arbitrage, improved transparency and reduced opportunities for politically connected individuals to profit from multiple exchange rates.

According to him, the reforms have significantly improved government revenues, enabling federal and state governments to meet critical obligations, including the payment of salaries, pensions and gratuities.

Adeyeye further cited the Federal Government’s student loan scheme, increased investment in tertiary education and improved funding for universities as evidence that the Tinubu administration was using available resources to cushion the impact of the reforms on Nigerians.

Drawing from his experience as former Pro-Chancellor of Ekiti State University, he said improved funding had helped stabilise public universities and reduced the incessant industrial actions that previously disrupted academic activities.

He noted that uninterrupted academic calendars would ultimately benefit students and contribute to national development.

On the political front, Adeyeye dismissed suggestions that the African Democratic Congress (ADC) could pose a serious challenge to President Tinubu in the 2027 presidential election, insisting that the opposition lacked the political structure and grassroots support required to confront the ruling All Progressives Congress (APC).

The National Chairman of the South-West Agenda for Asiwaju (SWAGA) predicted that Tinubu would secure victory across the 36 states of the federation, arguing that the president’s political support continued to expand nationwide.

“I said over three months ago that President Tinubu would likely win all the 36 states, and today I am even more convinced.

“ADC has no governor in any state. It has no significant presence in the National Assembly or state assemblies. You cannot compare such a party with the APC.

“Even Atiku Abubakar does not appear to enjoy strong political backing in his home state. How do you defeat an incumbent president when you cannot build a formidable political structure where you come from?” he asked.

Adeyeye explained that SWAGA was established to consolidate Tinubu’s support base in the South-west before the 2023 election, adding that the president had since expanded his political influence across other parts of the country.

Expressing confidence in Tinubu’s re-election prospects, Adeyeye pledged to campaign across Nigeria to mobilise support for the president.

“I am absolutely confident and ready to campaign anywhere for President Tinubu. I believe he deserves another mandate because the difficult decisions he took have rescued Nigeria from a far worse economic situation and placed the country on the path of stability and growth,” he said.

He added that while governors would be judged individually on their performances, the president’s economic reforms had strengthened the financial capacity of states through increased allocations, giving many administrations greater resources to execute development projects and improve the welfare of their people.

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