Islamic cleric Sheikh Ahmad Gumi has defended President Bola Tinubu’s economic reforms, saying the administration’s policy direction largely aligns with recommendations many economists would make.
Gumi, who spoke in an interview with PAPShow, said he found little fault with the economic measures introduced by the Tinubu administration, including removing petroleum and electricity subsidies.
He noted that international institutions, including the International Monetary Fund (IMF), had welcomed some of the reforms, adding that key economic indicators suggested that the country’s economy was recovering.
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.”
The cleric described the removal of the petrol subsidy as inevitable, given the economic circumstances Nigeria found itself in.
“Removing the subsidy was an inevitable consequence of the circumstances in which Nigeria found itself,” he said.
Gumi also acknowledged improvements in some areas of the economy, citing increases in gross domestic product, government revenue and allocations to states and local governments.
“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.
He further cited the resumption of substantial construction work on the Abuja-Kaduna road, which he said had virtually stalled under the previous administration, as well as the establishment of new federal and state universities.
“The economy is recording growth, and there are improvements in certain areas,” he said.
On the Tinubu administration’s intervention programmes, Gumi said the initiatives were acceptable in principle but stressed that their effectiveness depended on implementation.
He acknowledged that the government had introduced measures to support vulnerable Nigerians but questioned whether the interventions were sufficient.
Gumi’s comments come amid debate over the impact and sustainability of the Tinubu administration’s economic policies, particularly the removal of the fuel subsidy and the government’s efforts to stabilise the economy.
