Nigerian Economy Is Recovering — Sheikh Gumi Defends Tinubu’s Economic Reforms

By Micheal Chukwuebuka

Islamic Cleric Sheikh Ahmad Gumi has defended President Bola Tinubu’s economic reforms, saying the administration’s policies are largely in line with recommendations many economists would make.

Gumi stated this during an interview with PAPShow, where he said he found little fault with the economic direction of the Tinubu administration, particularly its decision to remove fuel and electricity subsidies.

Asked whether Tinubu was getting his economic policies wrong, Gumi said, “No. I am not saying the economic measures themselves are wrong. You may find very little fault with the economic direction in principle.”

He described the removal of the fuel subsidy as an inevitable decision given Nigeria’s economic circumstances, noting that international institutions, including the International Monetary Fund (IMF), had welcomed some of the reforms.

The cleric also pointed to improvements in key economic indicators, including GDP, government revenue and allocations to state and local governments, as signs that the economy was recovering.

“At the macroeconomic level, GDP has increased, government revenue has increased, and allocations have also increased. Virtually all the major indicators suggest that the Nigerian economy is recovering,” he said.

Gumi further cited the resumption of major construction work on the Abuja-Kaduna road, which he said had almost stalled under the previous administration, as well as the establishment of new federal and state universities.

He, however, noted that although the government’s intervention programmes for vulnerable Nigerians were acceptable in principle, their effectiveness depended on proper implementation. He also questioned whether the support provided was sufficient to meet the needs of struggling citizens.