Tinubu’s Economic Policies Bearing Fruit, Inflation Drops as Growth Surges – Senator Arise

A prominent chieftain of the All Progressives Congress (APC), Senator Ayodele Arise, has declared that President Bola Tinubu’s bold economic reforms are delivering tangible benefits to Nigerians, countering criticisms from opposition quarters and pointing to improved macroeconomic indicators.

Arise, who served as senator for Ekiti North District from 2007 to 2011, made these remarks during a media parley in Abuja on Friday. He highlighted the removal of the fuel subsidy as a pivotal decision that has liberated public funds from the grip of a few elites, redirecting them towards essential sectors for national development.

“As far as I am concerned, from my position as a business person, the decision of Mr President has benefited a lot of Nigerians. It has moved our economic growth positively, as shown by the statistics we have seen,” Arise stated. He noted that inflation, which had been a major concern, has “come down drastically,” allowing for increased funding in critical areas.

Recent data supports Arise’s optimism. Nigeria’s Central Bank projects a GDP growth of 4.49% for 2026, with inflation easing to an average of 12.94%, driven by stable foreign exchange markets and ongoing reforms. This follows a 3.98% year-on-year GDP expansion in the third quarter of 2025, marking a slowdown from the previous quarter but still reflecting robust non-oil sector performance. President Tinubu, in his New Year address, affirmed that the country ended 2025 with quarterly growth and inflation declining steadily to below 15%.

The APC stalwart also praised the establishment of the Nigerian Education Loan Fund (NELFUND), describing it as a game-changer for indigent yet brilliant youths seeking higher education. “We now have money to fund institutions like NELFUND. The President does not want anyone to say they could not go to school because of school fees,” Arise said.

NELFUND’s impact has been significant, with over N161.97 billion disbursed to 864,798 students for tuition and upkeep allowances as of January 2026. The initiative has empowered education across the nation, benefiting over 639,000 students through various support programs. Recent disbursements include N1.33 billion to the University of Lagos for the 2025/2026 session, covering loans for 6,308 students.

Arise further commended the administration’s handling of university unions, which has minimized disruptions in the academic calendar. “Prior to Tinubu becoming president, we noticed varsity students in a full year programme spent six, seven years for four years course. But since the President came, attention has been given to demands and grievances of bodies like ASUU, NASU, and we have seen people graduating after four years like their colleagues who have gone abroad to study,” he explained.

Indeed, strikes by the Academic Staff Union of Universities (ASUU) and Non-Academic Staff Union (NASU) have notably reduced under the Tinubu administration. Since May 2023, there have been no prolonged nationwide strikes, with only occasional warnings issued. A presidential aide recently highlighted this as a key achievement, noting that ASUU has embarked on strike only once in that period, thanks to financial interventions like the N150 billion allocated for university revitalization in the 2025 budget. This stability has helped curb brain drain, as students now complete their programs on schedule, aligning with global standards.

On local government autonomy, Arise lauded Tinubu’s insistence on ensuring funds reach grassroots levels directly. “Mr President has insisted that local government funds should stay with the local governments for grassroots development, where the majority of the population lives,” he said. This policy, he added, enables councils to enhance infrastructure such as roads, primary schools, and healthcare facilities while generating jobs in rural communities.

The push for autonomy stems from a landmark Supreme Court ruling in July 2024, which President Tinubu has actively enforced, urging governors to comply and warning against violations. Despite challenges, including criticisms from opposition figures like former Vice President Atiku Abubakar over implementation delays, the reform aims to foster prosperity and stability at the local level. Analysts view it as a catalyst for economic empowerment, allowing councils to drive local initiatives independently.

Arise also touched on the solid minerals sector, noting that the Federal Government is developing refineries to support miners and boost exports. He described these efforts as part of broader policies translating into economic gains.

The sector has seen remarkable growth under Tinubu, with revenue surging from N16 billion in 2023 to N38 billion in 2024, and projected to exceed N70 billion in 2025. This six-fold increase is attributed to reforms emphasizing local value addition and a tightened licensing regime, attracting $800 million in foreign investment. The government has earmarked an additional N1 trillion for exploration and surveys in the 2025 budget, signaling a commitment to diversifying the economy beyond oil.

In closing, Arise urged Nigerians to acknowledge the improvements. “If people are getting some benefits, they should speak out and say things are getting better,” he said. As Nigeria navigates these reforms, stakeholders believe sustained implementation will solidify the gains, positioning the country for inclusive growth in 2026 and beyond.