Otti praises Tinubu's 'courageous' fuel subsidy removal, dismisses hardship claims

Abia State Governor Alex Otti has lauded President Bola Tinubu's administration for its "bold reforms," specifically commending the removal of the fuel subsidy and the floating of the naira. Otti described these decisions as requiring significant courage, despite their immediate economic repercussions.

“

I want you to please thank him. Thank him for his courage. Thank him for his sacrifices. Some people may not understand. It takes a man with courage to do what he did in 2023, remove petroleum subsidy, and followed suit with the floating the naira.

During a visit from First Lady Senator Oluremi Tinubu to Abia State, Governor Otti conveyed his appreciation to the President. He urged the First Lady to relay his message, emphasizing that these were difficult but necessary economic measures. "It takes a man with courage to do what he did in 2023, remove petroleum subsidy, and followed suit with the floating the naira," Otti stated.

“

What has that done? That has freed up a lot of funds that would have been used in financing consumption to doing other things in the federal government, in the states, and in the local governments. And today, a lot of states are now paying salaries. A lot of states are able to build infrastructure. A lot of states are able to empower people to produce rather than consume.

The governor asserted that these reforms have substantially boosted revenues for federal, state, and local governments. This increase, he explained, allows for greater investment in development projects and the fulfillment of key financial obligations. "What has that done? That has freed up a lot of funds that would have been used in financing consumption to doing other things in the federal government, in the states, and in the local governments. And today, a lot of states are now paying salaries. A lot of states are able to build infrastructure. A lot of states are able to empower people to produce rather than consume," Otti elaborated.

“

Now, make no mistakes about it. Every courageous decision, every courageous action, has its own consequences. So, if you remove subsidy and if float the naira, it will take its toll, and over time, the economy will begin to correct.

While acknowledging the short-term economic hardship experienced by many Nigerians, Otti framed it as an inevitable consequence of implementing far-reaching policy changes. He argued that the current difficulties should be viewed as the result of years of unsustainable economic practices rather than the reforms themselves. "So, what you see that people interpret as hardship today are the fallouts of previous behavior," the governor concluded.

“

So, what you see that people interpret as hardship today are the fallouts of previous behavior.