Political scientist Obafemi George has defended the economic policies of President Bola Ahmed Tinubu, arguing that the administration is laying a strong foundation for Nigeria’s long-term economic recovery despite the current challenges of inflation, high living costs, and insecurity.
Speaking during an interview on ARISE News on Friday, George said key reforms introduced by the administration, including the removal of fuel subsidies and broader fiscal adjustments, were difficult but necessary measures that should be evaluated from a long-term perspective rather than through the lens of immediate hardship.
According to him, meaningful national development takes years, and expectations of rapid transformation within a short period are unrealistic.
“When you elect a president, you set expectations across critical sectors such as the economy, infrastructure, education, healthcare, and security. Looking at these areas, I can confidently say the president has performed creditably. His performance should be assessed not only through data but also through comparative analysis,” George stated.
Addressing the pace of development, he argued that no modern nation has achieved significant economic transformation within just a few years.
“Whenever people demand immediate results, I ask them to point to a single country in modern history that moved from poverty to prosperity within 36 months. There is none,” he said.
George cited several international examples to support his position.
“China lifted millions of people out of poverty, but it did not happen in three years. The process took more than four decades. They invested heavily in infrastructure and long-term development, which is similar to what this administration is trying to achieve.”
He also referenced Rwanda and Dubai as examples of countries whose progress required sustained efforts over many years.
“President Paul Kagame has spent over two decades building Rwanda into what it is today. Dubai began its transformation in the 1970s and only emerged as a major global destination decades later.”
On the issue of economic hardship, George acknowledged the difficulties Nigerians are facing but maintained that the removal of fuel subsidies was unavoidable.
“The reality is that these sacrifices should have been made years ago. The country delayed difficult decisions, and we are now dealing with the consequences,” he said.
He argued that subsidy payments had become unsustainable because the government was borrowing funds to maintain them.
“We were not generating enough revenue to sustain subsidies. In fact, we were borrowing money to pay subsidies and even borrowing to service the debt created by those subsidies. Removing the subsidy did not suddenly create savings; it simply stopped the cycle of excessive borrowing.”
George further stated that increased government revenues have improved allocations to states and local governments.
“The additional funds now reaching states and local governments are largely a result of improved revenue generation. Government earnings have increased significantly compared to previous years.”
On inflation and economic stability, he expressed confidence that current reforms would eventually produce positive outcomes for ordinary Nigerians.
“Once macroeconomic policies are properly aligned, the benefits gradually flow into the wider economy. It is a process that takes time, but the impact will eventually be felt by citizens.”
He pointed to recent assessments by international rating agencies as evidence that the economy is moving in the right direction.
“Global rating agencies have acknowledged Nigeria’s progress. Improved ratings indicate growing investor confidence and economic stability.”
Addressing concerns over insecurity, George rejected suggestions that the situation has worsened, arguing that Nigeria is now confronting a more complex regional security challenge linked to instability across the Sahel.
“What Nigeria faces today extends beyond Boko Haram. The security crisis has become regional and international in nature, especially following developments across neighbouring countries in the Sahel.”
He added that security agencies have recorded notable successes in recent months, including several rescue operations involving kidnapped victims.
According to him, while security challenges remain, government efforts have produced measurable results.
Responding to criticisms that ordinary Nigerians have yet to experience meaningful improvements, George maintained that the foundations for economic recovery are already being established.
“The available data indicates progress. Economic reforms do not produce immediate results, but they create the conditions for long-term growth and stability.”
He also highlighted renewed investor interest in Nigeria, noting that major international companies have expressed confidence in the country’s economic direction.
“Investor confidence is improving. Several global companies are increasing their commitments to Nigeria because they see the potential created by ongoing reforms.”
George concluded by stating that the ultimate judgment of the administration’s performance would rest with Nigerians as the effects of the reforms become more visible over time.
“In the end, Nigerians will decide whether these policies have improved their lives. The true measure of success will be the impact felt by the people.”
