Adeyeye: Nigerians are Suffering, But Tinubu Saved Nigeria from Economic Collapse, Bankruptcy

Gbenga Sodeinde in Ado Ekiti

The Chairman of the Nigerian Ports Authority (NPA), Senator Dayo Adeyeye, has acknowledged the economic hardship currently confronting Nigerians, but insisted that President Bola Tinubu’s administration prevented Nigeria from sliding into economic collapse and possible national bankruptcy through its far-reaching reforms.

Adeyeye, who is also the National Chairman of the South-West Agenda for Asiwaju (SWAGA), said the painful decisions taken by the administration, particularly the removal of fuel subsidy and the unification of the foreign exchange market, were necessary interventions to rescue the nation’s economy from a dangerous path.

Speaking with journalists in Ado-Ekiti, the Ekiti State capital, yesterday, the former senator said he understood the difficulties being experienced by citizens, but argued that the alternative would have been a deeper economic crisis that could have affected the survival of the country.

“I know Nigerians are suffering, but the truth is that President Tinubu saved the Nigerian economy from collapse and prevented national bankruptcy. The difficult decisions were necessary because the country was already facing serious fiscal challenges before this administration came in,” Adeyeye said.

He explained that Nigeria’s economy before May 2023 was weighed down by an unsustainable subsidy regime, declining government revenues, foreign exchange distortions and prolonged fuel scarcity, which he said created severe pressure on the nation’s finances.

According to him, although petrol prices increased after subsidy removal, Nigerians now have improved access to petroleum products compared with the era of persistent fuel queues and scarcity, while the foreign exchange reforms have brought greater transparency into the system.

Adeyeye also argued that the reforms had strengthened the financial position of state governments through improved allocations, enabling many administrations to meet obligations such as payment of salaries, pensions and gratuities.

The NPA chairman further highlighted the Federal Government’s student loan scheme and increased funding for universities as measures aimed at reducing the burden on families and improving access to education.

Drawing from his experience as a former Pro-Chancellor of Ekiti State University, Adeyeye said improved funding and better welfare for university workers had contributed to greater stability in the education sector after years of recurring industrial disputes.

On the 2027 presidential election, Adeyeye dismissed the African Democratic Congress (ADC) as a serious threat to President Tinubu’s re-election ambition, arguing that the opposition party lacked the political structure and grassroots spread required to defeat the ruling All Progressives Congress (APC).

He said a party without governors, significant National Assembly presence or strong control of state assemblies could not be compared with the APC’s nationwide political network.

Adeyeye also questioned the strength of former Vice President Atiku Abubakar’s political base, saying a presidential candidate must first establish strong support in his home state before seeking national acceptance.

He expressed confidence that President Tinubu would secure victory in 2027, declaring his readiness to campaign across the country for the President’s re-election.

“I am absolutely confident and ready to campaign anywhere for Tinubu. I believe he deserves massive support and I am convinced he will win in 2027,” he said.