Senator Solomon Adeola, popularly known as Yayi, has said Nigeria is saving over N10 trillion annually following the removal of fuel subsidy and the introduction of tax reforms by Tinubu.
Senator Adeola, who represents Ogun West Senatorial District and chairs the Senate Committee on Appropriations, made this known on Saturday during his 22nd Thanksgiving service held in Ilaro, Ogun State.
Responding to criticisms trailing the subsidy removal and tax reforms, the senator explained that before the policy change, Nigeria was borrowing heavily every month just to sustain fuel subsidy.
“Before the removal of subsidy, Nigeria was borrowing between N7 billion and N8 billion monthly to fund fuel subsidy, and when you add everything together, it was not less than N10 trillion annually,” he said.
Yayi stated that the country is now on a better economic footing, noting that the reforms have brought clarity and predictability to the economy while laying a solid foundation for growth.
“Nigeria is now getting it right. We can predict the kind of economy we are running. The micro economy is doing well and we are also working on the macro economy. I can assure you that in no distant future, Nigerians will begin to feel the full impact of these reforms,” he said.
He further pointed to major infrastructure projects as evidence of the gains from the reforms, mentioning the Lagos Calabar coastal road and the Sokoto Badagry highway as projects that would strengthen the nation’s economy.
“In the area of infrastructure, the president has done excellently well. The Lagos Calabar road and the Sokoto Badagry road are building a new Nigeria, a Nigeria that works for everybody and a Nigeria that works for all,” Yayi added.
Speaking on the tax reform bills, the senator dismissed claims of crisis between the executive and the legislature, insisting that the National Assembly remains committed to protecting national interest.
“I can tell you there is no crisis on tax reform. We are on the same page with the executive. Whatever will be implemented is what will eventually be passed. Any amendment that happens will only come from the National Assembly, and we will do only what promotes the integrity of the National Assembly and Nigeria as a whole,” he said.
Adeola also commended Ogun State Governor, Prince Dapo Abiodun, for what he described as transformative projects in the state, noting that the Gateway International Airport and the proposed seaport have boosted the state’s economic prospects.
Corroborating Senator Adeola’s position, the Minister of State for Health, Hon. Ishiaq Salako, said Nigerians are already witnessing positive outcomes from Tinubu’s policies.
“As of January 3, 2026, there are no fuel queues across the country. Efforts to address insecurity are ongoing, and the economy is expected to grow by 4.49 percent in 2026, with inflation easing to about 12.94 percent,” Salako said.
He added that the reforms, including tax harmonisation and subsidy removal, are aimed at improving efficiency and boosting government revenue.
“The new tax laws, despite the controversy, are expected to simplify compliance and increase government revenue,” he said, while challenging critics and opposition parties to explain what they would have done differently.
According to him, “the APC progressive policies have the support of many Nigerians who remain optimistic about the future of the country.”
In his sermon at the thanksgiving service, the Bishop of the Cathedral Church of Christ, Rt. Rev. Micheal Oluwarombi, admonished Yayi to remain steadfast in gratitude to God.
Preaching from Luke chapter 3 and 1 Kings 3 verses 3 to 15, the cleric described the senator as a public servant who has remained faithful in service.
“You have not soiled your hands. Do not ever soil them. The key to your success is thanksgiving. Continue to give thanks to God,” the bishop said.
