The Senator representing Lagos East Senatorial District, Senator Mukhail Adetokunbo Abiru, FCA, has said that Nigeria’s economy is stabilising under President Bola Ahmed Tinubu, as key macroeconomic reforms begin to yield positive results.

Speaking at the Lagos East Senatorial District APC Stakeholders’ Meeting held on Thursday in Ikosi-Isheri, Magodo, Senator Abiru described President Tinubu’s leadership since May 2023 as the “calm of the storm,” noting that the administration took bold but necessary decisions to avert economic collapse and reposition the country for sustainable growth.

According to him, reforms such as fuel subsidy removal, foreign exchange unification, fiscal and tax restructuring have started to produce measurable gains, including easing inflation, particularly food inflation, greater exchange rate transparency, improved external reserves and renewed investor confidence. He added that GDP growth has remained positive and that improved subnational revenues are gradually impacting the micro-economy, easing pressure on households and small businesses.

Abiru, who is the Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, urged party leaders to mobilise residents for Independent National Electoral Commission, INEC’s second phase of Continuous Voter Registration and the APC membership e-registration exercise, stressing that data-driven planning is critical to electoral success. He also endorsed the funding structure proposed by the Lagos East APC leadership, emphasising the need for predictable and transparent party financing.

Presenting his stewardship, the senator said his representation has been anchored on three pillars: legislation, empowerment and endowment. He highlighted his role in sponsoring and co-sponsoring landmark legislations, including the Insurance Industry Reforms Act and the Copyright Amendment Act, as well as ongoing amendment bills on BOFIA, NEXIM and NAICOM.

On constituency projects, Abiru disclosed that over 35 schools have benefited from classroom construction and rehabilitation, while several health facilities, including 40-bed hospitals and primary health centres across the district, have been constructed or upgraded. He added that about 11 community roads have been completed, with more ongoing, alongside the installation of over 700 solar streetlights, provision of transformers to over 30 communities and construction of 21 motorised boreholes.

He further disclosed that 48 cooperative societies, each supported with a ₦10 million take-off grant, amounting to ₦480 million, to boost grassroots economic inclusion was equally launched last December.

He added that about 2,000 constituents received empowerment tools like: Freezers, Generators, Ovens, Industrial Sewing Machines and Grinding Machines, among others. While over 80,000 households had so far benefitted from Food Pack schemes, across the district, Abiru informed.

Calling for unity and discipline within the APC, the senator urged stakeholders to continue to support President Tinubu’s Renewed Hope Agenda, stressing that collective effort remains essential for sustained development in Lagos East, Lagos State and Nigeria.

Lagos State APC Chairman, Pastor Cornelius Ojelabi, other elders of the party, who are also members of the Governance Advisory Council, GAC, members of the National Assembly, Lagos State House of Assembly, Commissioners, and other cabinet members of the Lagos State Executive Council from Lagos East, Council chairmen, APC LGA chairmen among others were in attendance.