Tinubu’s Economic Reforms Earn APC USA’s Respect and Endorsement for Second Term
The All Progressives Congress (APC) United States of America (USA) Chapter has expressed its respect and endorsement for President Bola Ahmed Tinubu’s second term in office, following his impressive economic reforms in the last two years.
The chapter’s chairman, Professor Tai Balofin, made the announcement in Abuja on Wednesday, commending Tinubu’s bold economic policies and transformative leadership.
According to Balofin, Tinubu’s economic reforms have yielded remarkable results, including a 111.24% growth in the Nigerian Exchange (NGX) and a nearly 500% increase in external reserves, which grew from $4 billion in 2023 to over $23 billion by the end of 2024.
The chairman also highlighted the removal of fuel subsidies, which saved ₦4 trillion, and the unification of exchange rates, which attracted $50 billion in foreign direct investment (FDI).
Despite the inherited challenges and short-term challenges, Balofin rated Tinubu 85 percent in a performance scorecard, emphasizing the administration’s focus on economic restructuring and its efforts to avert a fiscal crisis that could have led to runaway inflation, external debt default, and a collapsing Naira.
The APC USA Chairman also acknowledged the attendant effects of the various policies on Nigerians, urging them to remain patient, as the benefits of Tinubu’s reforms are beginning to take hold. Balofin’s remarks came amid mixed reactions to President Tinubu’s mid-term performance, with opposition groups citing persistent inflation and insecurity as major concerns.
However, Balofin’s endorsement underscores the administration’s commitment to economic reforms and its success in attracting foreign investment, despite the challenges of public discontent.
The APC USA Chapter’s support for Tinubu’s second term is a testament to the administration’s focus on economic restructuring, job creation, and poverty alleviation.
Tinubu’s administration has implemented various policies aimed at diversifying the economy, promoting financial inclusion, and improving the business environment. The government’s efforts have resulted in the creation of over 10 million jobs, the establishment of several industrial parks, and the promotion of small and medium-scale enterprises (SMEs).
Moreover, Tinubu’s administration has made significant strides in improving the country’s infrastructure, including the construction and rehabilitation of roads, bridges, and railways. The government’s investments in infrastructure have facilitated trade, improved mobility, and enhanced the quality of life for millions of Nigerians.
Tinubu’s economic reforms have earned the respect and endorsement of the APC USA Chapter for his second term in office.
Despite the inherited challenges and short-term challenges, the administration’s focus on economic restructuring, job creation, and poverty alleviation has resulted in significant economic growth, foreign investment, and job creation.
The APC USA Chapter’s endorsement is a testament to the administration’s commitment to improving the lives of Nigerians and promoting sustainable economic development.
