Abia State Governor Alex Otti has thrown his weight behind two of the Tinubu administration’s most controversial economic policies, that of the removal of fuel subsidies and the floating of the naira and described them as difficult but necessary reforms that demanded political courage.
The governor made the remarks on Tuesday while receiving the First Lady, Senator Oluremi Tinubu, during her visit to Abia State to promote the historic Akwete weaving heritage in Ukwa East Local Government Area. Using the occasion, Otti asked the First Lady to convey his appreciation to President Bola Tinubu for taking decisions that many previous administrations had avoided.
“I want you to please thank him. Thank him for his courage. Thank him for his sacrifices. Some people may not understand. It takes a man with courage to do what he did in 2023, remove petroleum subsidy, and followed suit with the floating the naira,” Otti said.
The governor argued that the twin reforms have reshaped public finances by freeing up resources that had previously been spent on subsidising consumption. According to him, the increased revenues now available to the federal, state and local governments have created greater fiscal space for infrastructure projects, salary payments and programmes aimed at stimulating economic productivity.
“What has that done? That has freed up a lot of funds that would have been used in financing consumption to doing other things in the federal government, in the states, and in the local governments,” he said.
Otti noted that many states, which previously struggled to meet basic obligations, are now in a stronger financial position to pay workers’ salaries, expand infrastructure and support economic activities. In his view, the reforms have shifted government spending away from consumption and towards investments that could deliver long-term benefits.
At the same time, the governor acknowledged the immediate economic strain caused by the policies, admitting that such sweeping reforms inevitably come with short-term costs. He maintained, however, that the hardships currently experienced by many Nigerians should be seen within the context of years of economic distortions rather than as a direct consequence of the new measures alone.
“Every courageous decision, every courageous action, has its own consequences. So, if you remove subsidy and float the naira, it will take its toll, and over time, the economy will begin to correct,” Otti stated.
He further argued that many of the economic difficulties confronting the country today are rooted in long-standing structural problems and unsustainable fiscal practices that predate the current administration.
“So, what you see that people interpret as hardship today are the fallouts of previous behavior,” the governor added.
Otti’s endorsement is significant given his status as one of Nigeria’s opposition governors. His comments come amid continuing national debate over the impact of the subsidy removal and exchange-rate reforms, which supporters say are essential for economic recovery, while critics argue that they have deepened the cost-of-living crisis facing ordinary Nigerians.
