- Tinubu’s Economic Reforms in Nigeria’s Best Interest – GNI
- Says the ongoing tax reforms are being restructured to promote fairness and inclusivity
- Isiaka said the reforms are already producing positive outcomes
The member representing Yewa North and Imeko-Afon in the House of Representatives and Chairman of the House Committee on National Planning and Economic Development, Hon. Gboyega Nasir Isiaka, has said that the economic policies of President Bola Ahmed Tinubu are deliberately designed to serve Nigeria’s long-term national interest.
Eko Hot Blog reports that Isiaka made the remarks during his mid-term constituency engagement held at the Comprehensive High School, Ayetoro, while addressing concerns over the economic reforms introduced by the APC-led Federal Government.
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He explained that the ongoing tax reforms are being restructured to promote fairness and inclusivity, noting that while the reforms are challenging, they are already yielding measurable results. According to him, structural reforms require time before their full benefits are felt across the economy.
The lawmaker noted that President Tinubu inherited an economy that was on the brink of collapse, weakened by decades of unsustainable policies.
“Decades of subsidies drained our resources, enriching a few while infrastructure deteriorated. Multiple exchange rates encouraged rent-seeking and corruption. Debt obligations consumed nearly every available resource, leaving little for development,” Isiaka said.
He stressed that addressing such deep-rooted economic challenges required difficult but necessary decisions, including the removal of fuel subsidy, unification of exchange rates, and the restructuring of the tax system.
“These decisions were not easy. Political convenience would have been easier, but it would have come at the expense of national survival,” he added.
Isiaka said the reforms are already producing positive outcomes, citing improved market confidence, more predictable macroeconomic variables, and gradual moderation in inflation and interest rates, all of which are laying the foundation for improved GDP growth.
“A unified exchange rate has restored confidence. Inflation is being curtailed. Interest rates and other macroeconomic variables are becoming more stable and predictable. Our economy has turned the corner,” he said.
He urged Nigerians to remain patient and resilient, noting that the foundation currently being laid would translate into long-term stability and prosperity.
“I am confident that better days lie ahead, and these tough times will surely pass,” Isiaka stated.
While giving an account of his stewardship, the lawmaker said the comprehensive economic development plan he initiated continues to serve as a strategic roadmap for accelerated socio-economic transformation in his constituency.
He also commended the Ogun State Government, led by Governor Dapo Abiodun, for its strategic vision and reforms, noting that the administration’s policies have significantly reshaped the state’s socio-economic architecture.
Isiaka reaffirmed his commitment to accountability and consistent engagement with his constituents, assuring them of continued representation and presence.
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