Senator Adams Oshiomhole has defended President Bola Tinubu’s economic reforms, arguing that despite widespread concerns about rising living costs, Nigeria remains more affordable than the United States.
Speaking on Channels Television’s Politics Today on Thursday, the Edo North lawmaker stated that ₦2,000 can still purchase a meal at a local roadside restaurant, commonly known as a “mama put,” whereas one dollar has little purchasing power in the US.
According to Oshiomhole, the Tinubu administration’s key reforms, including the removal of fuel subsidies and the unification of the foreign exchange market, were difficult but necessary measures aimed at preventing economic collapse.
He maintained that President Tinubu prioritised long-term national interests over short-term political considerations, describing the reforms as critical steps towards sustainable economic growth.
The former Edo State governor explained that before Tinubu assumed office, a significant portion of government revenue was spent on fuel subsidies and debt servicing, leaving limited resources for development projects. He said the decision to end the subsidy regime on the President’s first day in office was intended to free funds for infrastructure, education, healthcare and the student loan programme.
Oshiomhole also rejected opposition claims that the reforms have worsened poverty levels, insisting that Nigeria’s cost of living remains comparatively lower than that of the United States. He noted that many Nigerians living abroad acknowledge the challenges of surviving on modest incomes in America, yet continue to criticise economic conditions at home.
He urged Nigerians to remain patient, expressing confidence that the positive impact of the reforms would become more evident over time.
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