Senate President Godswill Akpabio has commended President Bola Tinubu’s economic reforms, stating that Nigeria’s economy is on the right path to recovery.

Speaking on friday during the signing of the 2024 budget in Abuja, Akpabio acknowledged the initial challenges but emphasized that the reforms are already yielding positive results.

He highlighted that the measures are diversifying and stabilizing the economy, reducing its reliance on petroleum revenue. Akpabio expressed optimism about the future, noting that the reforms are laying a solid foundation for sustainable growth. His remarks reflect growing confidence in Tinubu’s administration’s ability to steer the nation toward economic stability and prosperity.

The 2024 budget signing marks a significant step in implementing these reforms, with hopes that it will further strengthen Nigeria’s economic resilience and improve the livelihoods of its citizens.

During the signing Process done on friday Akpabio had this to say, “When the fuel subsidy was removed, I approached the President and asked, ‘Don’t you want re-election in 2027?’ He asked why, and I explained, ‘How can you remove the subsidy so abruptly? Let’s phase it out gradually.’ The President responded, ‘I inherited a situation where the fuel subsidy was already unsustainable. The previous administration had budgeted for it but ended the subsidy in May.’ When he took office in June, he reaffirmed that the subsidy was gone but didn’t provide further details. Despite the initial challenges and uncertainties, the decision has set Nigeria on a new path. Now, the country is moving toward economic stability, even without relying heavily on petroleum revenue as a primary source of income.”

The Senate President applauded Tinubu for proposing what he called the “biggest budget” in Nigeria’s history, emphasising that the National Assembly carefully reviewed and analyzed the appropriation bill before passing it.