The Speaker of the House of Representatives, Tajudeen Abbas, has drawn parallels between President Bola Tinubu's economic policies and those implemented by former United Kingdom Prime Minister Margaret Thatcher, highlighting similarities in their approach to fiscal reforms.
Speaking at the ongoing All Progressives Congress (APC) National Summit in Abuja, Abbas specifically pointed to Tinubu's removal of fuel subsidy and unification of the naira exchange rate as reflective of Thatcher's monetarist revolution and privatisation drive during her tenure.
"Mr President, your decisive removal of fuel subsidy and unification of the naira closely mirrors the monetarist revolution and privatisation drive of the late Margret Thatcher in the UK," Abbas stated.
The Speaker elaborated on the comparison, noting: "Just as Thatcher reduced public spendings, you broke the power of entrenched interests and sole state enterprises to restore fiscal health and investors confidence."
Abbas praised Tinubu for ending "decades of dependency on subsidy" through his pronouncement during his presidential inauguration in 2023, when the President declared an immediate end to the fuel subsidy regime in Nigeria.
The Speaker further commended the President for consolidating the exchange rate, suggesting these reforms have positioned Nigeria for improved fiscal health and increased investor confidence.
The APC National Summit, which has attracted key party figures including President Tinubu, Vice President Kashim Shettima, and Senate President Godswill Akpabio, continues to address national issues and party strategies.
