Governor of Imo State and Chairman of the Progressive Governors’ Forum, Hope Uzodimma, on Monday declared that President Bola Ahmed Tinubu was laying the foundation for a more competitive, credible and economically stable Nigeria through bold reforms aimed at repositioning the country for long-term growth.
Uzodimma, who also serves as Director-General of the Renewed Hope Ambassadors, stated this while addressing members of the diplomatic corps accredited to Nigeria in Abuja the Federal Capital Territory.
The governor said the administration’s economic reforms, especially the removal of fuel subsidy and the unification of the foreign exchange market, had transformed Nigeria’s fiscal outlook and restored investor confidence.
According to him, the reforms have moved Nigeria from “foundational repair” to visible economic recovery.
He said, “What comes out on the other side will be a Nigeria more competent, more competitive, and more credible than the one any of us has known.”
Uzodimma described the fuel subsidy regime as “the single largest organised corruption pipeline” in Nigeria’s public finance system.
He noted that its removal blocked massive leakages that had drained the treasury for decades and increased revenue allocations to federal and state governments.
“The era of state governors travelling to Abuja for emergency bailouts to pay salaries is over,” he added.
The governor cited ongoing projects such as the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Superhighway as evidence of the administration’s commitment to infrastructure renewal.
He also said the floating of the naira had improved transparency in the foreign exchange market and reduced the gap between official and parallel exchange rates.
Uzodimma disclosed that Nigeria’s foreign reserves had risen to $49.4bn as of March 2026, while the Nigerian Exchange recorded over 55 per cent growth year-to-date.
Speaking on global economic challenges, he said Nigeria had shown resilience despite the impact of conflicts in the Middle East and disruptions in global oil supply chains.
He added that reforms in education, taxation, digital economy and security were already yielding positive results.
According to him, over 1.3 million Nigerian students had benefited from the Federal Government’s interest-free education loan scheme, while recent tax reforms had exempted low-income earners and small businesses from several taxes.
The governor assured the diplomatic community that Nigeria remained committed to strengthening institutions, improving governance and expanding international cooperation.
Also speaking, Minister of Budget and Economic Planning Atiku Bagudu said the Federal Government would continue implementing reforms aimed at stabilising the economy, boosting infrastructure and improving citizens’ welfare.
Kaduna State Governor and Deputy Director-General of the Renewed Hope Ambassadors, Uba Sani, said Nigeria remained steadfast in strengthening institutions and creating an enabling environment for investors to thrive under Tinubu’s leadership.
“We are committed to building resilient economies in the subnationals to enhance the welfare of our citizens,” Sani said.
The Ambassador of the European Union to Nigeria, Gautier Mignot, commended Nigeria’s reform efforts and described the country as a strategic partner to the EU in Africa.
Mignot said the EU recognised the courage required to implement difficult economic reforms and expressed confidence that the measures would strengthen Nigeria’s long-term competitiveness.
He added that the European Union would continue supporting Nigeria in the areas of trade, governance, infrastructure, digital economy and security cooperation.
According to him, reforms that improve transparency, institutional stability and investor confidence are critical to sustainable economic growth.
Also speaking, Liberia’s Ambassador to Nigeria, John Ballout Jnr., praised Nigeria for its support to Liberia over the years.
“We have a second chance today because of Nigeria. We come with a deep sense of appreciation. We are here to cement the relationship and have designated ourselves as Nigeria’s best friend,” he said.
Meanwhile, the Philippine Ambassador to Nigeria, Mersole J. Mellejor, pledged continued collaboration with Nigeria in promoting economic stability, peace and prosperity.
About 29 ambassadors from different countries attended the event alongside representatives of Governors of Delta and Akwa Ibom, serving Ministers ,Serving Senators, Aides of the President, and directors of various directorates under the Renewed Hope Ambassadors initiative.
