Senator Orji Kalu, representing Abia North, has acknowledged the economic hardships faced by Nigerians during President Bola Tinubu’s tenure, asserting that such struggles are a part of necessary economic reforms.
During his appearance on ARISE Television, Kalu, a member of the All Progressives Congress (APC), emphasized that while citizens are experiencing difficulties, the focus on major reforms is essential for long-term economic stability. “People are shouting poverty. Yes, people are hungry. Even President Tinubu himself knows that things are difficult. You can’t go into reform without things going difficult,” he noted.
Kalu argued that the reforms initiated by Tinubu are crucial for updating Nigeria’s economic structure to align with global markets, stating that significant changes carry immediate negative impacts for some sectors of society.
He highlighted that although the macroeconomic indicators have stabilized, there is a pressing need for improvements at the microeconomic level, particularly concerning insecurity and agricultural production. He urged the government to enhance efforts to combat threats faced by farmers, enabling them to return to their fields safely.
Manufacturing also emerged as a significant focus for Kalu, who indicated that increased support in this sector would be pivotal for fostering economic growth. He noted that while businesses continue to struggle, there have been improvements compared to past years, citing enhanced conditions for factories in terms of operation and planning due to stabilized fuel prices and foreign exchange rates.
Kalu compared Nigeria’s situation to Brazil’s experience under former President Luiz Inácio Lula da Silva, indicating that initial economic reforms often bring about temporary hardships before eventual benefits are realized. He called for sustained growth efforts to ensure that macroeconomic gains translate into tangible improvements for Nigerian citizens.
