Kalu inaugurates 20,000 Renewed Hope Partners in Abia, touts Tinubu’s reform gains
By Kunle Sanni
Deputy Speaker of the House of Representatives, Benjamin Kalu, has inaugurated over 20,000 members of the Renewed Hope Partners (RHP) in Bende Local Government Area of Abia State, as part of a grassroots mobilization campaign in support of President Bola Tinubu’s administration.
Speaking at the event on Monday, Kalu described the Renewed Hope Agenda as more than a political slogan, calling it a strategic roadmap for national transformation focused on economic revival, social welfare, security, and infrastructure development.
He also launched an RHP office in Umuahia, the Abia State capital, to raise awareness of federal government initiatives and achievements under President Tinubu’s leadership.
Highlighting recent reforms, Kalu said the removal of fuel subsidies has freed up funds for development, reduced petrol importation by 50%, and helped boost government revenue to over ₦9.1 trillion in the first half of 2024.
He added that unifying the foreign exchange market has curbed arbitrage, improved transparency, and enhanced investor confidence, contributing to Nigeria’s GDP growth of 3.84% in Q4 2024 and an annual rise to 3.40%, up from 2.74% the previous year.
On inflation, Kalu noted that targeted interventions helped lower the rate from 34.6% to 23.71% by May 2025. Prices of staple foods like rice, maize, and sorghum, he said, have dropped by over 25% in the first quarter of the year.
Kalu also cited the launch of the Nigerian Consumer Credit Corporation (CREDICORP), backed by ₦200 billion in funding, aimed at expanding access to consumer credit for half of the country’s working population by 2030.
In foreign trade, he said Nigeria posted a surplus of ₦3.42 trillion ($2.25 billion) in Q4 2024 due to a surge in exports. He noted that global rating agencies Fitch and S&P Global recently upgraded Nigeria’s economic outlook to ‘Stable B’, affirming progress under the current administration.
