Barr. Morayo Lebi Commends President Tinubu’s Economic Reforms and Calls for Continued Support

Barr. Morayo Lebi Commends President Tinubu’s Economic Reforms and Calls for Continued Support

Barr. Morayo Lebi, National Coordinator of President Bola Ahmed Tinubu Again (PBAT-Again), has lauded President Tinubu’s far-reaching economic reforms, urging Nigerians to continue supporting the administration for the sustainability of these gains. Speaking at Akotogbo Ward 10 yesterday, he highlighted several key achievements that have significantly repositioned the Nigerian economy.

According to Barr. Lebi, notable milestones include:

✅ Economic Reforms:

Removal of fuel subsidies and the unification of multiple foreign exchange systems, which have fostered greater financial stability.

Government revenues more than doubled in the first half of 2024, with an increase of over ₦9.1 trillion compared to the same period in 2023.

✅ Boost in Oil Production & Foreign Investments:

Crude oil production has increased to 1.7 million barrels per day.

Nigeria secured over $500 million in foreign direct investment deals.

✅ Ongoing Infrastructure Projects:

Major developments such as the Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway are underway, alongside investments in roads, bridges, railways, power, and the oil and gas sectors.

✅ Monetary Stabilization and Fiscal Management:

Deregulation of the FX market and removal of forex subsidies have helped stabilize the naira.

FX reserves rose by $364 million within two weeks before the April 2025 MPC meeting.

External reserves now cover 7.6 months of imports.

Nigeria fully repaid its first ₦100 billion Sovereign Sukuk issued in 2017.

✅ Tax and Debt Reforms:

A comprehensive Tax Reform Bill is underway and will soon be forwarded to the President for assent.

Debt servicing has improved significantly, reducing from 95% to 65% of revenue—freeing up funds for capital and social investments.

Barr. Morayo Lebi concluded by stating that, “These achievements reflect the bold and strategic direction of President Bola Ahmed Tinubu’s leadership. Now more than ever, Nigerians must rally behind the President to ensure these reforms are deepened and sustained for long-term national prosperity.

*Signed*
*BARR MORAYO LEBI* *APC CHIEFTAIN*