The national coordinator of the Forum of Former Members of the defunct All Nigeria Peoples Party (ANPP), Prof. Vitalis Ajumbe, has commended President Bola Ahmed Tinubu for what he described as a remarkable and courageous performance in the first two years of his administration. He expressed firm belief that the country is on a steady path to economic recovery, national renewal, and sustainable development under the Renewed Hope Agenda.
According to Prof. Ajumbe, in a press statement he signed and available to journalists in Abuja yesterday, President Tinubu has exhibited exceptional leadership by implementing tough but necessary reforms that are now beginning to yield measurable results.
“The last two years have not been easy, but President Tinubu has confronted the long-standing economic and structural problems of the country with courage, foresight, and a deep sense of responsibility,” he said.
He pointed to the administration’s success in reducing Nigeria’s total public debt from $108.2 billion inherited from the previous administration to $94.2 billion. He praised the Tinubu-led government for clearing Nigeria’s debt to the International Monetary Fund (IMF), enhancing the nation’s financial credibility.
Through the statement, the agenda also highlighted recent reports by the World Bank, which showed that Nigeria’s economy recorded a 4.6 percent year-on-year growth in Q4 2024, with continued expansion expected into 2025.
“Additionally, Nigeria achieved a record-breaking trade surplus of ₦5.81 trillion in Q3 2024 — the highest in history — driven by a surge in non-oil exports, reflecting the administration’s efforts to diversify the economy.
“The reforms may have caused temporary discomforts, but the economic fundamentals are clearly improving,” Ajumbe noted. “We are witnessing a strengthening naira, declining inflation, rising foreign reserves, and increased capital inflows. These are the fruits of President Tinubu’s policies.”
Prof. Ajumbe praised the Central Bank of Nigeria (CBN), under the leadership of Governor Olayemi Cardoso, for initiating and implementing robust monetary policies that have stabilised the naira and improved access to foreign exchange. He noted that the clampdown on currency manipulation and transparent forex market operations has restored investor confidence and enhanced macroeconomic stability.
“Governor Cardoso has brought discipline, prudence, and professionalism to the apex bank. The policies are working, and Nigeria is regaining its place as a destination for responsible investment,” he added.
Prof. Ajumbe also applauded the Tinubu administration’s aggressive push for infrastructure development. He cited the Lagos-Calabar Coastal Highway, Sokoto-Badagry Expressway, East-West Road, and Abuja-Kaduna-Kano Highway projects as examples of the administration’s commitment to revamping Nigeria’s transport backbone.
In the energy sector, Prof. Ajumbe acknowledged noticeable improvements in electricity output in recent months, attributing it to renewed investments and targeted reforms in the power sector. “The federal government is investing in transmission and distribution infrastructure, and we are beginning to see better supply outcomes in several parts of the country,” he noted.
Another milestone the professor highlighted is the launch of the student loan scheme. Over ₦32.8 billion has been disbursed to approximately 200,000 students nationwide, a move he described as historic and critical in building a skilled future workforce.
Prof. Ajumbe also noted the peace and stability currently enjoyed in public universities, pointing out that the Academic Staff Union of Universities (ASUU) has not sparked strikes in the past two years—a feat not seen in decades.
While acknowledging the economic hardships many Nigerians face, Prof. Ajumbe commended the federal government for its commitment to workers’ welfare, particularly in the phased implementation of a new minimum wage. He noted that the government had begun paying the outstanding balance of wage adjustments and is working collaboratively with labour unions to develop a sustainable wage structure.
In security, Prof. Ajumbe highlighted significant progress in the fight against terrorism, banditry, and separatist violence. He commended the Nigerian security forces and President Tinubu for taking decisive steps to secure the country.
“Unlike the previous administration, we are now witnessing the arrest and elimination of notorious bandit leaders. Over 14 high-profile terrorists have been neutralised, and peace is gradually returning to affected communities in Kaduna, Zamfara, Katsina, and other flashpoints,” he stated.
He further praised the administration’s proactive efforts in tackling cybercrime and digital threats, referencing the clampdown on Binance’s illicit financial flows and its role in destabilising Nigeria’s currency. “The national security adviser and security agencies deserve praise for disrupting networks that fund terrorism and economic sabotage,” he said.
He lauded President Tinubu’s active diplomatic engagements and successful trips, which have attracted investors’ interest across key sectors, including agriculture, manufacturing, digital economy, and renewable energy. These engagements, he said, have positioned Nigeria as an emerging economic powerhouse and renewed confidence in Nigeria’s leadership on the continent.
“President Tinubu’s administration has demonstrated that tough times can be used to lay the foundation for a prosperous future. We are seeing indicators of progress across every critical sector, from education to infrastructure, security, economy, and international relations,” Prof. Ajumbe declared.
He concluded by calling on Nigerians to rally behind the President and give him the support needed to continue his transformative leadership beyond 2027.
“This is a midterm of renewed hope and solid performance. Let us stay united and focused. The future is bright,” he stated.
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