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Tinubu inherits an economy on the verge of collapse, says Ogun Gov. Abiodun.

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Ogun State Governor, Dapo Abiodun, has called on Nigerians to exercise patience with President Bola Tinubu’s government, emphasising that it inherited an administration on the verge of collapse.

Tinubu assumed office in May, succeeding Muhammadu Buhari, and swiftly implemented bold economic reforms geared towards revitalising public finances and attracting foreign investment.

Notable among these reforms was the cessation of the fuel subsidy and the floating of the naira currency.

While these measures have led to a threefold surge in fuel prices and increased food costs, Governor Abiodun remains optimistic about the long-term benefits. In an interview on Channels Television’s Sunday Politics, he commended Tinubu’s administration, stating, “President Bola Ahmed Tinubu’s administration has been very bold and audacious.

They have taken the bull by the horns. They have done what no other government has done in the history of Nigeria.”

Addressing the challenges faced by Nigerians in the short term, particularly the deregulation decisions, Governor Abiodun affirmed the necessity of these actions.

He stressed that the administration had to make tough choices to prevent the country from facing severe economic repercussions.

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“There can’t be any gain without pain. He has inherited an administration that was almost comatose,” Governor Abiodun emphasised.

In assessing the future, Governor Abiodun, a member of the All Progressives Congress (APC) like President Tinubu, expressed confidence in a positive turnaround. “You know, our president, besides being a former governor and a senator, is also an accountant.

So, he is someone who is very spot on, and all hands are on deck to turn this economy around. We are very hopeful, and we can see the light at the end of the tunnel,” he declared.

In response to the challenges posed by the subsidy removal and the subsequent rise in the cost of living, the Tinubu government introduced a comprehensive package.

This included a 35,000 naira ($45) monthly pay increase for federal employees over six months, a temporary suspension of VAT on diesel, and social security cash transfers to the most vulnerable Nigerians. These measures were implemented in a bid to garner support from labour unions and avert potential strikes.

(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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