The governor of Abia State, Alex Otti, has backed President Bola Tinubu’s economic reforms.
However, the governor also said it is too early to rate the performance of Tinubu’s administration.
He spoke during an interview with Arise TV journalist Rufai Oseni. The clip of the interview was posted on X.
Otti, the only governor on the platform of the Labour Party, backed the removal of fuel subsidy and the floating of the Naira.
When asked if President Tinubu has done well economically, Otti responded, “This is one question I will not be able to answer.”
Oseni asked why.
Otti said, “Because I have access to him, and I can always discuss with him. Today, it’s just 23 months into the administration; it’s still early days.
“Did the economy start sinking today?
“Subsidy removal was long overdue. What was happening was that big men like you and I were the ones enjoying fuel subsidies. Even the Naira floating, I have spoken about it. It is just that the two policies happened at the same time.
“Over time, I believe that this economy will rebound if the current economic reforms are kept.
“Are you surprised that inflation is 24 percent? What is an interest rate? Inflation goes with interest rates. They will keep chasing themselves no matter how much you rebase.
“It is very unfortunate, but some of the sacrifices must be made. If you don’t today, you will tomorrow, or the economy will go up in flames. One of the problems with FX is because we are not producing and exporting much other than crude oil.
“What we are doing is creating an environment where productivity will happen.”
His comments come as Nigeria’s inflation rate stood at 24.23 percent and interest rate at 27.50 percent as of March 2025.
Despite rebase, Nigeria’s inflation rate rises to 24.23%
