Senator representing Abia North Senatorial District, Orji Uzor Kalu, has defended the economic reforms of President Bola Tinubu, insisting that the administration has stabilised key macroeconomic indicators despite prevailing hardship, while admitting that the country’s microeconomy remains under severe strain, leaving millions of Nigerians grappling with the rising cost of living.

Speaking on Channels Television’s Politics Today, the former Abia State governor said the Tinubu administration had made significant progress in restoring macroeconomic stability, but noted that insecurity and global economic headwinds continued to undermine economic activities at the grassroots.

“The macro side of the economy has been stabilised. What we are suffering today is the micro side of the economy,” Kalu said.

“Because of the insurgency and all the rest of them, people can’t go to farm. People are running away from what they are supposed to do because of bandits. For me, President Tinubu has been able to stabilise the macro part of the economy. The next level is to stabilise the micro.”

Kalu acknowledged that manufacturers and ordinary Nigerians were bearing the brunt of the current economic realities.

“I’m a businessman. I manufacture goods. The micro side of the economy is not doing well,” he said.

The senator, however, argued that macroeconomic indicators were moving in the right direction under the current administration.

“The economy in the macro aspect of it is doing very well. The polity is being stabilised, the exchange rate is being stabilised, the fuel price is being stabilised, and foreign direct investments are coming in,” he said.

According to him, Nigeria’s economic challenges have been compounded by regional insecurity and global conflicts beyond the control of the Tinubu administration.

“The problem we have is from the Sahel. When arms out of Libya opened up and arms out of Mali opened up, Nigeria is no longer safe with our minerals in the northern part of Nigeria. This is what we are suffering,” he said.

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“There is a worldwide recession. Whether you are in the United States, Canada or the United Kingdom, there are economic problems because of the Iran-US-Israel war and the Ukraine-Russia war. They are putting pressure on economies across the world. Nigeria is not exceptional.”

Kalu maintained that economic reforms inevitably come with short-term pain before yielding long-term benefits.

“A reform is not a Christmas party. It’s not a Sallah party. In a reform, we have to see the good, the bad and the ugly. From where we are now, we are going to the destination where we will be able to manage the microeconomy.”

Responding to criticism by members of the Catholic Bishops’ Conference of Nigeria over the state of the economy, Kalu said the bishops were justified in speaking out.

“If the bishops had said anything less than what they said, it means they are no longer the conscience of the country. The bishops were right,” he said.

He, however, dismissed suggestions that President Tinubu had disrespected the Catholic Church.

“President Tinubu can never insult the Catholic Bishops. Knowing him, from what I know of him, he cannot,” Kalu said.

The senator noted that while Cardinal John Onaiyekan had expressed his personal views, they should not be mistaken for the official position of the Catholic Bishops’ Conference.

“Cardinal Onaiyekan has been saying the same thing since 1979. He has not spared any government, from the military regime to civilian administrations. He speaks the way he sees it as a member of the masses,” he said.

On whether the Presidency should apologise to the Catholic Church over comments by some presidential aides, Kalu said the President had done nothing requiring an apology.

“If there is anything wrong the President has done to the Church, he should apologise. But the President didn’t say anything that needs an apology.”

Defending Tinubu’s statement that he would not “roll out the red carpet” for the opposition ahead of the 2027 elections, Kalu insisted the President remained committed to democratic competition.

“He said we will have a fair contest. Any day President Tinubu disrespects the opposition or the Catholic Church, I will resign from the APC,” he declared.

On the controversy over the previous administration’s use of the Central Bank’s Ways and Means financing, Kalu admitted that money was printed under former President Muhammadu Buhari’s government but maintained that the National Assembly raised concerns over the policy.

“They printed money and we questioned them. Go and get the footnotes of the Senate. We advised the executive that they shouldn’t print money, just as we have told this President not to print money, and he is adhering to it,” he said.

Kalu rejected claims that the ruling All Progressives Congress had failed Nigerians, arguing that many of the country’s economic challenges predated the Tinubu administration.

“President Tinubu has not printed money. We have said we will be accountable for whatever we do. But it is not a failure,” he said.