The 2023 All Progressives Congress (APC) governorship candidate in Rivers State, Tonye Cole, has said Nigerians may need to wait another two to three years before fully feeling the impact of the economic reforms introduced by President Bola Tinubu.
The businessman-turned-politician made the remarks on Tuesday while speaking as a guest on Channels Television’s Political Paradigm programme, where he addressed concerns about when the government’s macroeconomic gains would translate into tangible benefits for ordinary citizens.
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Responding to a question on the timeline for visible improvements, he said, “If you ask me, I suspect that before you begin to see the impact at the very bottom, if you allow things to just move naturally, you are going to look for another two to three years before you see it.”
He stressed that while macroeconomic indicators may show progress, effective communication and targeted interventions remain critical.
According to him, “The man at the bottom… cares about feeding, transportation and getting a job that will at least pay.”
Cole noted that governments globally must deliberately channel significant resources towards improving the welfare of the average citizen.
He, however, argued that Nigeria has struggled in this regard, adding that existing incentives have not been sufficiently broad-based to reach a population of over 200 million people.
Beyond the economy, Cole expressed optimism about Nigeria’s long-term outlook, citing improvements in investor confidence.
The APC stalwart also reaffirmed his commitment to the party, stating that internal negotiations within the party would continue.
Since assuming office in 2023, President Tinubu’s administration has been driving major economic reforms which the government said is to promote long-term growth, including fuel subsidy removal, FX unification, tax changes, local government autonomy, and student loan initiatives.
However, these policies have triggered economic hardship, rising inflation, and a higher cost of living, drawing criticisms from some quarters, particularly the opposition.
