APC Chieftain Insists Tinubu’s Reforms Require Patience, Says Infrastructure Will Drive Prosperity

According to reports, George, a founding member of the APC and Chief Executive Officer of Barachel Realty Limited, acknowledged the economic difficulties Nigerians have faced following the removal of fuel subsidy and other government reforms but insisted that meaningful economic transformation cannot be achieved within a short period.

Speaking during an interview, the Lagos-based politician argued that no country had successfully moved from economic hardship to prosperity within three years, stressing that nations such as China, Singapore, Dubai and Rwanda achieved remarkable progress through decades of consistent planning and policy implementation.

George said President Tinubu was applying at the national level the development strategy that transformed Lagos into one of Nigeria’s major economic centres, noting that infrastructure expansion, power sector reforms and regional economic integration would play critical roles in driving future growth.

“You cannot build a prosperous economy in 36 months. It is not possible. Show me one country that moved from poverty to prosperity in three years,” he stated.

The APC chieftain praised some of the administration’s major policy decisions, including fuel subsidy removal, electricity sector reforms and fiscal restructuring, describing them as bold steps previous administrations lacked the political courage to undertake.

He highlighted the signing of the Electricity Act as one of the government’s key achievements, explaining that the legislation now allows states to participate in electricity generation and distribution.

According to him, the reform addressed a challenge faced during Tinubu’s tenure as Lagos State governor when efforts to independently generate electricity for the state were blocked by the Federal Government.

George also pointed to ongoing infrastructure projects, including the Lagos-Calabar Coastal Highway and Sokoto-Badagry Super Highway, describing them as strategic investments aimed at connecting regions, reducing transportation costs and expanding economic opportunities.

He maintained that infrastructure development had historically been a major driver of prosperity in advanced economies, citing countries like the United States and China as examples of nations that leveraged transportation networks to accelerate growth.

The APC chieftain further supported the establishment of regional development commissions across Nigeria’s geopolitical zones, describing the initiative as a practical approach to promoting balanced development and strengthening regional economies.

While admitting that many Nigerians, including business owners, were currently experiencing financial pressure, George said the challenges were part of the adjustment process required to rebuild the economy.

He revealed that his own business had also been affected by rising operational costs, leading to measures such as reducing generator usage, adjusting work schedules and cutting expenses.

George, however, expressed optimism that the reforms would eventually produce positive results, insisting that Nigerians would benefit from the government’s difficult decisions in the long run.

“Prosperity is coming. Nigerians will eventually reap the rewards of these difficult decisions,” he said.

He also referenced positive evaluations from international financial institutions, including the International Monetary Fund, the World Bank and Standard & Poor’s, as signs that Nigeria’s economic direction was attracting global attention.

On security, George said insecurity across the country had different causes depending on the region, ranging from terrorism in parts of the North-East to illegal mining activities in some areas of the North-West and North-Central regions.

He expressed support for the proposed establishment of state police, arguing that decentralised policing would improve intelligence gathering and enhance security responses at the local level.

George concluded that although the Tinubu administration inherited significant economic and security challenges, the President had shown the determination to implement reforms needed to address longstanding problems.

He maintained that history would judge the administration positively for taking difficult decisions aimed at laying the foundation for a stronger Nigerian economy.