Fayemi backs Tinubu’s reforms, calls for unified policy framework

By Kunle Sanni

Former Ekiti State Governor Kayode Fayemi has commended President Bola Tinubu’s bold economic reforms but stressed the need for a comprehensive policy framework to consolidate these efforts.

Speaking on Thursday on Channels Television’s Politics Today, Fayemi praised Tinubu for making tough decisions that previous administrations avoided, including the removal of fuel subsidies and the unification of the foreign exchange market.

However, he cautioned that good intentions alone are not enough for sustainable progress.

“President Bola Ahmed Tinubu has done many good things; we all must acknowledge that,” Fayemi said. “He has been bold in taking on some of the most difficult decisions that previous leaders were reluctant to address. However, good intentions are not enough in leadership—intentionality is critical to success.”

He emphasized the need for a cohesive policy framework to integrate various reform initiatives.

“Whether it’s student loans, tackling insurgency, addressing insecurity, tax policy reform, or increasing government revenue, there are clear efforts in place. However, these elements must come together within a unified framework,” he explained.

Fayemi further stressed that strong leadership must be paired with a solid policy structure to drive meaningful change and ensure good governance.

Asked about speaking truth to power, Fayemi remarked, “Power knows the truth,” but noted that power does not always act on the truth due to various mediating factors.

On May 29, 2023, President Tinubu announced the removal of the petrol subsidy, leading to an immediate spike in fuel prices and a ripple effect on the cost of goods and services.

In response, the Central Bank of Nigeria (CBN) unified the country’s multiple foreign exchange windows into a single Investors and Exporters (I&E) window to streamline operations and address economic challenges.