Why Nigerians Are Yet to Feel Tinubu’s Economic Reforms — Kalu

Former Governor of Abia State and Senator representing Abia North, Orji Uzor Kalu, has explained why many Nigerians are yet to experience the full benefits of the economic reforms introduced by President Bola Tinubu’s administration.

Speaking during an interview on Channels Television’s Talking Politics, Kalu acknowledged that while the macroeconomic indicators have shown signs of improvement, the economic reality confronting ordinary Nigerians remains difficult.

The senator admitted that the microeconomy, which directly affects households, businesses and consumers, is still struggling despite ongoing reforms.

“As a businessman who manufactures goods, I can tell you that the micro side of the economy is not good,” Kalu said, adding that he had previously discussed the hardship with President Tinubu and believed the President understood the challenges facing citizens.

According to Kalu, the administration has made significant progress in stabilising the broader economy by improving key economic indicators, including the exchange rate, fuel pricing and investor confidence.

He argued that these achievements have helped restore stability to the country’s macroeconomic environment, even though the benefits have not yet filtered down to the average Nigerian.

“The exchange rate is being stabilised, fuel prices are becoming more stable and foreign direct investments are coming into the country,” he stated.

Kalu attributed the persistent hardship at the grassroots level largely to insecurity, saying attacks by insurgents and criminal groups have prevented many farmers from cultivating their land and disrupted economic activities across several parts of the country.

He stressed that insecurity has reduced agricultural productivity, affected food supply and contributed to rising living costs.

The senator rejected suggestions that the current economic difficulties amounted to a failure of the ruling All Progressives Congress, insisting that Nigeria’s challenges have also been worsened by external factors, including instability across the Sahel region and global economic pressures.

He maintained that economic reforms are rarely painless, describing the process as one that requires patience before meaningful results become evident.

“In a reform, it’s not a Christmas party. It’s not a salad party. There will be good, bad and difficult moments before the gains become widespread,” Kalu said.

He added that the Federal Government’s next priority should be ensuring that improvements recorded at the macroeconomic level translate into better living conditions for ordinary Nigerians through stronger security, increased productivity and sustained economic growth.