.jpg "Publication Team")
ABUJA – President Bola Tinubu has mounted a strong defense of his administration’s economic policies, describing the current hardship faced by Nigerians as a "necessary sacrifice" for future national wealth. Speaking at the 4th APC Elective National Convention on Saturday, March 28, 2026, the President also made a significant link between domestic inflation and the "unanticipated blowout" of the US-Israeli-Iranian War.
The Economic Defense
Despite widespread public outcry over the high cost of living, the President insisted that macroeconomic indicators are finally turning in Nigeria's favor. He cited several key "wins":
- Inflation: Claimed a steady decline for eight consecutive months, down to 14.45%.
- Trade: Successive records of trade surpluses and a "booming" stock market.
- Global Standing: Nigeria has successfully exited the FATF "grey list" and seen its Eurobond issuance oversubscribed by 400%.
External Shocks and Global Conflict
In a move that has sparked debate among analysts, Tinubu specifically attributed part of the domestic economic strain to global instability. He suggested that the US-Israeli-Iranian War has created external shocks that compounded the effects of removing "wasteful subsidies" at home.
The Electoral Act 2026 Controversy
The President did not hold back against the opposition, dismissing criticisms of the Electoral Act 2026. He described attacks on the law as a "disservice to Nigerians," maintaining that the Act was passed through due process and is vital for strengthening democracy.
Power Sector Promises: The Birth of GAMCO
Acknowledging the persistent "blackouts" and transmission failures, Tinubu revealed a plan to establish the Grid Asset Management Company (GAMCO). He promised this move would inject an additional 1,600 megawatts into the national grid to address the country’s energy deficit.
Key Takeaways for Information Hub Readers:
- The "Why": Government blames global war (US-Israel-Iran) and subsidy removal for the current "hardship."
- The Goal: Sacrifices today are meant to build a foundation for "prosperity tomorrow."
- The Power Fix: Watch out for GAMCO, the new company tasked with adding 1,600MW to the grid.
- The Politics: Tinubu celebrates mass defections to the APC as a sign of "trust," while opposition calls it "survival."
