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Senator Orji Uzor Kalu, representing Abia North, has commended the President Bola Tinubu administration for rejecting economic prescriptions from the International Monetary Fund (IMF) and the World Bank, advocating instead homegrown solutions to Nigeria’s economic challenges.
Speaking at an event hosted by Chief Sunday Ugwu in Arochukwu Local Council Area, Kalu argued that Nigeria’s economic transformation required locally-driven reforms rather than foreign templates. Highlighting progress under Tinubu’s leadership, the senator pointed to the rehabilitation of the Port Harcourt and Warri refineries, exchange rate unification, and petrol subsidy removal as key steps toward sustainable growth.
Kalu emphasised that Tinubu’s willingness to take tough, unpopular decisions, such as ending fuel subsidies and liberalising the foreign exchange market, had already begun to bear fruit.
He said: “The Warri Refinery, which had been dormant for over 20 years, is now operational. We are witnessing a gradual reduction in fuel prices, and as the market stabilises, prices of other goods and services will follow suit.” He stressed that such reforms required patience, urging Nigerians to remain optimistic as the long-term effects would outweigh short-term hardships.
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