Owerri: Imo Governor Hope Uzodimma says President Bola Tinubu‘s reforms prevented fuel scarcity and domestic price hikes despite the crisis roiling the Middle East.
During their visit, Uzodimma told members of the City Boy Movement at the Government House, Owerri, on Friday that this achievement was made possible by the President’s reforms.
He said that, despite the ongoing war in the Middle East, the naira remained stable at N1,240, while other African currencies experienced significant volatility.
“Nigeria was almost at a decaying level when the President assumed office in 2023.
“In spite of the speculative tension in the Middle East, occasioned by the crisis in Iran, the prices of fuel would have gone up, but in the African continent, the Nigerian naira remains stable.
“The exchange rate of the U.S. Dollar and the South African rand has gone up, but in Nigeria, our exchange rate remains stable at N1,240 because we no longer fund subsidies,” Uzodimma said.
He hailed the subsidy removal for stabilising the exchange rate and allowing the Dangote Refinery to purchase crude for the project. He said the world now sees Nigeria’s recovery and urged unity to build on this progress.
Addressing a delegation of the movement, led by its Patron, Mr Seyi Tinubu, and Minister of Youth Development, Mr Ayodele Olawande, the governor described their visit as “homecoming. ” He called the initiative a “new mentality” to prepare young Nigerians for leadership.
He commended them for supporting and providing charity to the sick and vulnerable in hospitals.
The governor highlighted the South-East region’s improved infrastructure and political peace.
He urged the delegation to act as “Renewed Hope” ambassadors, ensuring that Tinubu’s achievements resonate in every grassroots and urban centre.
Uzodimma, therefore, promised full support for the youth movement.
Earlier, Olawande commended Uzodimma for supporting the movement, the Renewed Hope Initiative and youth programmes in the state.
He sought continued backing for youth initiatives that aligned with the movement. The movement is expected to empower 7,000 South-East youths on Saturday as a gesture during its visit. region.