The 2023 governorship candidate of the All Progressives Congress (APC) in Rivers State, Tonye Cole, has said Nigerians may need to wait between two and three years before the full impact of the Federal Government’s economic reforms is felt at the grassroots.
Cole made the remark on Tuesday, April 21, while speaking on Political Paradigm, a programme on Channels Television, where he addressed concerns about the delay between macroeconomic improvements and real-life benefits for citizens.
Responding to questions on when ordinary Nigerians would begin to feel the effects of the reforms introduced by President Bola Tinubu, Cole said, “If you ask me, I suspect that before you begin to see the impact at the very bottom, if you allow things to just move naturally, you are going to look for another two to three years before you see it.”
He explained that while economic indicators may suggest progress at a broader level, deliberate policies are required to translate those gains into tangible outcomes for the average citizen.
“The man at the bottom… cares about feeding, transportation and getting a job that will at least pay,” he said.
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Cole noted that governments across the world must consciously invest resources to improve the welfare of their populations, adding that Nigeria has struggled to extend such benefits widely.
He said existing incentives have not been sufficiently inclusive to impact a population of over 200 million people.
Despite current economic challenges, Cole expressed optimism about Nigeria’s long-term prospects, pointing to signs of improving investor confidence.
He also reaffirmed his loyalty to the APC, noting that internal party engagements would continue.
Since assuming office in 2023, Tinubu’s administration has implemented a series of major reforms, including the removal of fuel subsidies, foreign exchange unification, tax adjustments, local government autonomy measures, and the introduction of student loan schemes.
However, these policies have coincided with rising inflation, increased cost of living, and economic hardship for many Nigerians, drawing criticism from opposition voices and sections of the public.