Senate President Godswill Akpabio says President Bola Tinubu inherited a “foamy economy” when he assumed office in 2023.
Akpabio spoke in Abuja on Friday during the inauguration of the All Progressives Congress (APC) convention sub-committee on programmes and events, according to a statement sent by Jackson Udom, his special assistant on media.
The senate president was a minister in the administration of the late President Muhammadu Buhari, whom Tinubu succeeded.
He said the national assembly would continue to support the reform agenda of the Tinubu administration.
“The National Assembly will continue to support the agenda of the President Tinubu-led government in his efforts towards taking the country out of the woods,” he said.
Akpabio, a former governor of Akwa Ibom, added that “President Tinubu met what can be described as a foamy economy.”
He noted that the administration had taken key decisions to stabilise the economy.
“He had to put on his thinking cap by harmonising the exchange rate and the removal of the fuel subsidy, which was a drainpipe on the economy,” he said.
Akpabio said the administration had also introduced tax reforms aimed at increasing government revenue.
“He has also put in place the tax reforms, which has increased national revenue from the non-oil sector through the National Revenue Service,” he said.
He added that the reforms had also resulted in increased allocations to sub-national governments.
Akpabio said recent defections of opposition politicians to the APC reflect confidence in the administration’s policies.
“The recent defection into the ruling APC is simply a show of gratitude based on what the administration has achieved since 2023,” he added.
In May 2022, Akpabio said, “Buhari is the best president Nigeria could ever have at a time of difficult circumstances.”
