Former presidential aide, Reno Omokri, has defended President Bola Tinubu’s economic reforms, insisting that the pains Nigerians are experiencing are the unavoidable consequences of ending fuel subsidy, not proof of policy failure.
Speaking on Politics Today on Channels Television on Friday, Omokri said Nigeria could no longer continue “living in a fool’s paradise” by financing cheap fuel through debt.
“The reason why it’s biting on you is not because the government’s economic measures are bad. It’s because the fuel subsidy has gone. We were borrowing money to subsidise fuel. Before, it was a film trick.
“We cannot keep on borrowing because we want our people to live a pleasant life. What that means is that we are sacrificing the future of our unborn generations,” Omokri stated.
He argued that, despite citizens’ frustrations, the economy was showing signs of recovery, pointing to the Nigerian Stock Exchange All-Share Index which crossed 100,000 points for the first time in February 2024 and currently stands at about 123,000.
Omokri also highlighted that high interest rates in Nigeria have stabilised the currency and attracted foreign portfolio investments (FPIs), although he admitted the policies are “biting hard on manufacturers” and ordinary citizens.
“From the outside in, things look good because stability attracts investors. From inside out, people are feeling the crunch. But that is the reality of structural reforms,” he said.
The former aide also insisted that while many Nigerians claim the reforms are not benefitting them, that sentiment is an “opinion,” not an economic fact.
On politics, Omokri declined to comment on speculations about former President Goodluck Jonathan contesting again in 2027, saying, “I have unconditional love for President Jonathan. I will not criticise him or give an opinion on live television.”
He further explained why he recently led journalists to inspect the Abuja-Kaduna highway, countering opposition claims of insecurity and neglect.
Omokri said the road was under reinforced construction designed to last 50 years and was heavily secured with military outposts every kilometre in previously notorious kidnapping zones.
He urged Nigerians to remain patient, arguing that Tinubu’s reforms were laying the foundation for sustainable growth and security.
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