Lagos State Governor Babajide Sanwo-Olu, on May 29, 2025, praised President Bola Tinubu’s administration for its bold economic reforms, marking the president’s second anniversary in office.
Speaking at a Lagos event, Sanwo-Olu described Tinubu’s tenure as a period of transformative policies, particularly the removal of fuel subsidies and the unification of the foreign exchange market, which he called “courageous steps” to stabilize Nigeria’s economy. He highlighted positive indicators, including a fiscal deficit reduction from 5.4% of GDP in 2023 to 3.0% in 2024, and over ₦9.1 trillion in increased government revenue in 2024’s first half, enabling states to fund infrastructure and social programs.
Sanwo-Olu acknowledged public hardships, such as inflation and high living costs, but urged Nigerians to remain patient, asserting, “The train has left the station, moving toward a better destination.” He cited projects like the Lagos-Calabar Coastal Highway and the ₦70,000 national minimum wage as evidence of Tinubu’s commitment to balanced development.
He also praised the Student Loan Scheme and ₦95.6 billion disbursed for education, alongside local government autonomy to enhance grassroots progress. Despite opposition criticism labeling the reforms as harsh, Sanwo-Olu pointed to growing foreign direct investment and a 500% rise in external reserves to ₦23 billion by 2024’s end. His remarks, aligning with his long-standing support for Tinubu, reflect Lagos’ role as a model for APC-led governance, though public sentiment remains mixed amid economic strains.
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