‘Tinubu Reforms Have Stabilised Nigeria’s Economy’, Says BMSISMAN Chair Adewoye

The chairman of Basic Metal Sector, Iron and Steel Manufacturers Association of Nigeria (BMSISMAN), Prince Lekan Adewoye, has stated that the economic reforms embarked upon by President Bola Tinubu have stabilised the nation’s economy.

Adewoye also appealed to Nigerians to be patient with the President on the economic reforms being implemented by his administration.

The BMSISMAN’s chairman stated while speaking with journalists in Ilorin, Kwara State, on the sidelines of a stakeholders’ meeting organised by Kwara South Development Initiative where he acknowledged the positive impacts of the petroleum subsidy removal on the nation’s economic.

“I think things have changed. At the initial stage, we could see a sharp increase in the prices of commodities, but now that things are stabilising. We can begin to say that prices of commodities are coming down gradually. I know you can also attest to the fact that the price of rice is gradually coming down.

“So I think Nigerians should just be patient. I believe the government is doing the right thing and all of us will have to wait and see the result of this very necessary policies of the government,” he said.

Adewoye also urged Nigerians to reelect Tinubu in the 2027 general elections to enable him fully implement his economic policies.

He maintained that giving Tinubu another four years would enable Nigerians to feel the positive impacts of his economic policies.

Noting the concerns of some Nigerians on the removal of petroleum subsidy, Adewoye noted that other presidential candidates in the last general elections also pledged to do the same thing.

“The performance of the president is fantastic. I know people have some concerns, but I think what is important for us is to look at where we were when this administration came on board in 2023.

“When they came in, they took some bold steps because what was on the ground was not sustainable. So, we’ve seen people raising concerns about the removal of subsidy, floatation of the currency, but those were necessary policies that ought to have been done even before the president came in. So he took the bold step and he did exactly what he should do,” the BMSISMAN chairman added.