Economic reforms behind decline in insecurity, expert claims

An economic expert, Dr. Opialu Opialu, has claimed that economic reforms introduced by President Bola Tinubu have led to declining insecurity across the country.

He noted that government’s policies, including fuel subsidy removal, exchange rate unification, and investment-friendly initiatives have contributed to job creation and economic stability, which has indirectly reduced crime and insurgency.

Speaking at a one-day intellectual discourse on the state of the economy and the Renewed Hope Agenda in Abuja, on Friday, Opialu said the reforms are necessary for Nigeria’s development and will ultimately lead to prosperity.

The event, organised by the Beyond Boundaries Legacy Leadership Initiative (BBLLI) in collaboration with the Civic Centre on Economic Reforms, Policies, and Planning, brought together experts and stakeholders to discuss the theme, ‘Between Austerity and Prosperity: Nigeria Yesterday, Today, and Tomorrow’.

Opialu, who assessed Tinubu’s economic reforms, highlighted the country’s past, present, and future, noting that Nigeria was once a rich nation but became poor due to mismanagement and lack of planning.

Opialu said the present administration has implemented several key reforms, including the removal of subsidies on premium motor spirit, exchange rate unification, and a review of the Electricity Act.

These reforms, according to him, have been complemented by public sector reforms, a review of solid mineral policies, and the introduction of a student loan scheme.

While these reforms have caused short-term pains, such as inflation, a reduction in disposable income, and a high cost of living, Opialu noted that the gains will far outweigh the pains in the long run.

“The economic reforms of President Bola Ahmed Tinubu are on the right trajectory notwithstanding the temporary hardship. It is a price we all have to accept for the Nigeria of our dreams. The most equipped generation to carry this cross is ours and the time to do it is now,” he said.