Renowned economist and Special Adviser to President Bola Tinubu on Economic Affairs, Dr. Tope Fasua, has provided insights into Nigeria’s current economic standing, evaluating the nation’s challenges, the administration’s key reforms, and the outlook for the country’s economic future.
Speaking on this week’s edition of the Mic on Podcast with Seun Okinbaloye, Fasua expressed his belief in the potential of Nigeria’s economy, acknowledging the difficulty of embracing change but emphasizing the hope that exists for the nation’s future, “For me, I see hope. There is hope for Nigeria.”
In contrast to the economic concerns raised by critics, Fasua lauded President Tinubu’s decision to remove the fuel subsidy, a policy he describes as the boldest move of the current administration. He emphasized that the reform aligns with his own long-standing support for eliminating the subsidy, seeing it as a necessary step for Nigeria’s long-term economic stability.
“I would say the petroleum sector reforms (removal of fuel subsidy) is the one policy that I’m proud of in Bola Tinubu’s government.”
Meanwhile, Dr. Fasua also highlighted the importance of Nigeria’s Tax Reforms Bill, which he believes will benefit the nation’s poor and small businesses and as well underscore the government’s focus on inclusive economic growth. The tax reform bill is very pro-poor. It has increased the threshold for businesses in Nigeria.”
On the topic of Nigeria’s youth, Fasua emphasized the need to shift the national discourse from despair to optimism. He urged the nation to focus on harnessing the potential of its young population, particularly by involving local companies and students in national development efforts.
“We have to sell hope (and not hopelessness) to our young people. There is great hope and opportunity in this country (Nigeria). The youths cannot get this kind of opportunity anywhere else in the world.”
Addressing concerns about the president’s re-election, Fasua, who confidently dismissed any threats to President Tinubu’s political future stressed that the opposition lacks a viable platform to challenge the incumbent, therefore, reflecting his firm belief in Tinubu’s political dominance and his skepticism about the opposition’s ability to mount a serious challenge, “President Bola Tinubu is not going anywhere.
” Who is he going to lose to in the 2027 presidential election?”
While pushing back against claims that Nigerians are suffering, the former presidential aspirant reiterated his confidence in the Tinubu government’s commitment to acting in the best interests of the people, concluding that Nigeria’s economy is on track for a vibrant future.
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