May 29: How Tinubu saved Nigeria’s economy from collapse — Kalu

Deputy Speaker, House of Representatives, Hon. Benjamin Kalu on Wednesday congratulated President Bola Ahmed Tinubu on his second anniversary in office. 

It will be recalled that President Tinubu was sworn in as Nigeria’s President on May 29, 2023 having overwhelmingly won the presidential election. 

In a statement to commemorate the second year in office, Hon. Kalu said that the coming of President Tinubu saved the nation’s economy from collapse. 

He particularly hailed the courage displayed by President Tinubu leading to the removal of oil subsidy. 

Hon. alu particularly commended the bold decision of the President to remove oil subsidies, which he likened to a ‘whited sepulcher’ – appearing healthy externally but lifeless internally.

He said that the subsidies were draining the economy of the country with no significant benefits to the people. 

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The Deputy Speaker also commended the President for many other landmark achievements which included the Presidential Loan and Grant

Scheme with over 900,000 beneficiaries; 

Students Loan Scheme with over 300,000 beneficiaries and the clearing of over $10 billion FX debt. 

Others include over 440 ongoing road projects, including over 2,700km of superhighways; 3.84% GDP growth in 04 2024, highest in 3 years; N70,000 minimum wage payment; the decimation of insurgency affecting over 13,500 terrorists; over $50 billion in new FDI commitments Net Foreign Exchange achieved; the reserve of from $3.99 billion in 2023 to $23.11 billion in 2024; the unlocking of over $8 billion in new oil @and gas investments; the passage of 4 new landmark tax bills and and creation of regional development Commissions.

Hon. Kalu expressed confidence that the Tinubu-led administration will continue to drive positive change, urging Nigerians to support the government. 

He also assured that the parliament will continue to prioritize the enactment of people-oriented laws to complement the administration’s efforts.

NIGERIAN TRIBUNE