Prof. Kazeem Oshikoya, Vice-Chancellor of the Federal University of Science and Technology (FUSTECH), Epe, states that while President Bola Tinubu’s economic policies may seem harsh, they are essential for long-term national prosperity.
He noted that although removing the fuel subsidy and implementing other reforms initially caused financial strain, these policies have begun to yield economic gains and foster sustainable national development.
He observed that the Nigerian economy is stabilizing, and renewed foreign investor confidence signals improving prospects for economic recovery.
“Economic reforms are not always comfortable, particularly at their initial stages.
“However, difficult decisions are sometimes necessary to reposition a nation for sustainable growth and prosperity.
“President Tinubu’s decision to remove the fuel subsidy may appear harsh, but it was a necessary step towards addressing some of the structural challenges confronting the Nigerian economy,” he said.
The vice-chancellor added that increasing investment interest shows international investors are recognizing Nigeria’s economic potential.
He expressed optimism that food and essential commodity prices will become more affordable as the benefits of ongoing reforms continue to emerge.
Oshikoya stated that the education sector is improving, especially with the establishment of more universities and expanded access to higher education for young Nigerians.
“Today, more universities are being established, creating additional employment opportunities for academic and non-academic staff, while providing more admission opportunities for students to pursue their educational aspirations.
“This is important because education remains a major instrument for human capital development, innovation and national transformation,” he said.
He urged Nigerians to remain patient and support government policies, emphasizing that economic reforms require consistency, effective implementation, and collective commitment to achieve results.
Oshikoya emphasized the importance of continued investment in infrastructure, education, agriculture, and technology to strengthen Nigeria’s productive capacity and improve living standards.
“There is light at the end of the tunnel. What is important now is for the government to remain focused, address areas of concern and ensure that the benefits of economic reforms reach ordinary Nigerians.
“With sustained commitment, transparency and effective implementation, Nigeria can overcome its present challenges and emerge as a stronger and more prosperous nation,” he said.
Oshikoya stated that a second term for President Tinubu would provide an opportunity to consolidate ongoing reforms and complete outstanding economic programs.
He added that continuity in governance, combined with better policy implementation and accountability, could strengthen the economy and accelerate national development.
He concluded that the ultimate measure of the reforms’ success will be their positive impact on Nigerians’ welfare, job creation, purchasing power, and economic opportunities.
