The All Progressives Congress (APC) candidate for Abia South Senatorial District, Chief Erondu Uchenna Erondu Jnr, has said that President Bola Tinubu’s economic reforms are bold measures that are helping to stabilise Nigeria’s economy.

Erondu, who represents Obingwa West State Constituency in the Abia State House of Assembly, stated this during a national television interview while assessing Tinubu’s three years in office.

According to him, governing a country as large and complex as Nigeria is challenging, but the administration has recorded significant progress in stabilising the economy despite prevailing difficulties.

He said the Tinubu administration had strengthened fiscal federalism through policies that increased financial resources available to states and local governments.

“The reforms introduced by the Tinubu administration are gradually laying the foundation for long-term economic stability and national development. The truth is that Tinubu’s reforms are bold policies that are stabilising the nation’s economy,” he said.

Erondu noted that the President had consistently defended the reforms, describing them as necessary steps to prevent the country from sliding into economic collapse.

He recalled Tinubu’s nationwide broadcast marking the third anniversary of his administration, in which the President said his government inherited deep structural and economic challenges, including fuel subsidy burdens, exchange rate distortions, rising debt obligations, declining revenues and insecurity.

According to Erondu, the administration’s decision to remove fuel subsidy was aimed at restoring fiscal stability and repositioning the economy for sustainable growth.

“Nigeria spent as much as N18.4 billion daily on petrol subsidies at the peak of the regime, amounting to over N4 trillion in 2022 alone. Continuing the subsidy programme would have deprived critical sectors such as infrastructure, healthcare, housing and education of much-needed funding,” he said.