The Senator representing Lagos East Senatorial District, Senator Adetokunbo Abiru, has stated that Nigeria’s economy is stabilising under President Bola Tinubu, as key macroeconomic reforms are beginning to yield positive results.
Speaking at the Lagos East Senatorial District APC Stakeholders’ Meeting in Ikosi-Isheri, Magodo, Senator Abiru described President Tinubu’s leadership since May 2023 as the “calm of the storm,” noting that the administration took bold but necessary decisions to avert economic collapse and reposition the country for sustainable growth.
According to Senator Abiru, reforms such as the removal of fuel subsidies, foreign exchange unification, and fiscal and tax restructuring have begun to produce measurable gains, including easing inflation, particularly food inflation, greater exchange rate transparency, improved external reserves, and renewed investor confidence.
He noted that GDP growth has remained positive and that improved subnational revenues are gradually impacting the micro-economy, easing pressure on households and small businesses.
Senator Abiru, who is the Chairman of the Senate Committee on Banking, Insurance and other Financial Institutions, urged party leaders to mobilise residents for the Independent National Electoral Commission (INEC)’s second phase of Continuous Voter Registration and the APC membership e-registration exercise, stressing that data-driven planning is critical to electoral success.
He also endorsed the funding structure proposed by the Lagos East APC leadership, emphasising the need for predictable and transparent party financing.
Presenting his stewardship, the senator said his representation has been anchored on three pillars: legislation, empowerment and endowment, highlighting his role in sponsoring and co-sponsoring landmark legislation, including the Insurance Industry Reforms Act and the Copyright Amendment Act, as well as ongoing amendments to BOFIA, NEXIM and NAICOM.
On constituency projects, Senator Abiru disclosed that over thirty-five schools have benefited from classroom construction and rehabilitation, while several health facilities, including 40-bed hospitals and primary health centres across the district, have been constructed or upgraded. He added that about eleven community roads have been completed, with more ongoing, alongside the installation of over seven hundred solar streetlights, the provision of transformers to over thirty communities, and the construction of twenty-one motorised boreholes.
He further disclosed that forty-eight cooperative societies, each supported with a ten-million-Naira take-off grant, amounting to four hundred and eighty million Naira, to boost grassroots economic inclusion, were launched last December.
He added that about two thousand constituents received empowerment tools such as freezers, generators, ovens, industrial sewing machines and grinding machines, among others. He also informed that over eighty thousand households had so far benefited from food pack schemes across the district.
Calling for unity and discipline within the APC, the senator urged stakeholders to continue to support President Tinubu’s Renewed Hope Agenda, stressing that collective effort remains essential for sustained development in Lagos East, Lagos State and Nigeria.
Lagos State APC Chairman, Pastor Cornelius Ojelabi, other party elders who are also members of the Governance Advisory Council (GAC), members of the National Assembly, Lagos State House of Assembly, Commissioners and other cabinet members of the Lagos State Executive Council from Lagos East, Council chairmen, APC LGA chairmen, among others, were in attendance.
Reporting By Taoreed Abdullahi