The Edo North senator argues that President Tinubu’s removal of fuel subsidy and foreign exchange reforms were painful but necessary, urging Nigerians to be patient as the benefits gradually emerge.

Senator representing Edo North, Adams Oshiomhole, has defended President Bola Tinubu’s economic policies, arguing that despite the hardship facing Nigerians, the cost of living in the country remains cheaper than in the United States.

Oshiomhole made the remarks on Thursday during an appearance on Channels Television’s Politics Today, where he responded to criticisms of the Federal Government’s economic reforms and the rising cost of living.

The former Edo State governor maintained that while Nigerians continue to struggle with increasing food prices and other economic challenges, the country remains relatively affordable when compared with some developed nations.

To support his argument, Oshiomhole pointed to the purchasing power of the naira against the US dollar, claiming that N2,000 could still buy a meal at a local restaurant, popularly known as a 'mama put', in Nigeria, whereas one dollar would hardly purchase anything substantial in the United States.

"In Nigeria, N2,000 can get you something from mama put, but $1-something cannot buy you anything in the US," he said.

The senator insisted that the economic reforms introduced by Tinubu, particularly the removal of fuel subsidy and the unification of the foreign exchange market, were difficult but necessary decisions aimed at preventing the country's economy from collapsing.

According to him, Nigeria was spending a significant portion of its national revenue on fuel subsidy payments and debt servicing before Tinubu assumed office, leaving the government with limited resources for critical infrastructure and social development.

Oshiomhole argued that the President demonstrated political courage by removing the fuel subsidy on his first day in office, explaining that the decision was intended to redirect government resources towards essential sectors, including education, healthcare, infrastructure and social welfare.

He also defended the administration's student loan initiative, describing it as one of the programmes that could benefit Nigerians if the resources freed up through the reforms were properly utilised.

The lawmaker further took a swipe at critics of the President's economic policies, arguing that Tinubu was making decisions with the future generation in mind rather than pursuing policies designed to deliver immediate political popularity.

He described the President as a statesman willing to take difficult decisions for the long-term survival of the country, while suggesting that some of his opponents were more concerned about short-term political gains.

Oshiomhole also dismissed opposition claims that Tinubu's reforms had worsened the economic situation for Nigerians, insisting that comparisons with living expenses in countries such as the United States should provide a broader perspective on the cost of living.

He noted that Nigerians living abroad often complain about the high cost of survival in America, yet those at home continue to criticise the government over rising prices.

The senator urged Nigerians to exercise patience with the Tinubu administration, expressing confidence that the benefits of the economic reforms would become more evident with time.

However, his remarks come amid persistent public concerns over the rising prices of food, transportation, electricity and other essential goods and services, with many households continuing to grapple with the effects of inflation and the increased cost of living.

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