Deputy Speaker of the House of Representatives, Benjamin Kalu, has commended President Bola Tinubu’s Renewed Hope Agenda, highlighting significant achievements in economic revitalization, social welfare, security, and national development.
Speaking at the inauguration of over 20,000 new members of the Renewed Hope Partners (RHP) Bende, Bende Local Government Area of Abia State, Kalu emphasized that the agenda is not just a slogan but a comprehensive blueprint for Nigeria’s progress.
He said that under the Renewed Hope Agenda, Nigeria has recorded notable achievements, including a 3.84% GDP growth in Q4 2024, with annual growth rising to 3.40% in 2024 from 2.74% in 2023.
Kalu also said that inflation has dropped from 34.6% to 23.71% by May 2025, with food prices declining by over 25% in the first quarter of 2025.
He said that the administration has also unified the FX market, reduced arbitrage, and boosted investor confidence, stressing that Nigeria’s trade surplus also reached N3.42 trillion ($2.25 billion) in Q4 2024, driven by increased exports.
He said: “Since assuming office on May 29, 2023, President Tinubu’s administration has implemented bold reforms and policies that are already reshaping Nigeria’s future. The Renewed Hope Agenda is not just a slogan; it is a comprehensive blueprint for economic revitalisation, social welfare, security, and national development.
“The removal of fuel subsidies has freed up resources for critical sectors,
resulting in a 50% reduction in petrol importation and a doubling of government revenues to over N9.1 trillion in the first half of 2024 compared
to the previous year.
“The unification of the FX market has reduced arbitrage, increased
transparency, and boosted investor confidence. Nigeria’s economy
recorded a 3.84% GDP growth in Q4 2024, with annual growth rising to
3.40% in 2024 from 2.74% in 2023.
Through targeted interventions, inflation has dropped from 34.6% to
23.71% by May 2025, with food prices for staples like rice, maize, and
sorghum declining by over 25% in the first quarter of 2025.
“The launch of the Nigerian Consumer Credit Corporation (CREDICORP)
with over N200 billion in funding is set to bring consumer credit to 50% of
Nigeria’s working population by 2030, empowering citizens to access
essential goods and services.
Nigeria achieved a trade surplus of N3.42 trillion ($2.25 billion) in Q4 2024,
driven by increased exports.
“International agencies Fitch and S&P Global upgraded Nigeria to a Stable B outlook, reflecting growing global confidence in our economy.
“In infrastructure, over 260 new road projects worth N208 billion have
commenced, with major works ongoing on the Lagos-Calabar Coastal
Highway and the Sokoto-Badagry Highway. The Renewed Hope
Infrastructure Development Fund supports these transformative projects.
The Renewed Hope City and Estate project also aims to deliver 100,000
housing units nationwide, with special attention to the needs of low and
middle-income Nigerian families”, he said.
Kalu said the establishment of the South East Development Commission (SEDC), saying was a long-awaited initiative that marks a new era of inclusion and progress for the region.
The deputy speaker urged the newly inaugurated Renewed Hope Partners to play a crucial role in sustaining the gains of the Renewed Hope Agenda and carrying the message of progress to every community.
“For the South East, this moment marks the end of a long wait. Nearly 50
years since the civil war, we can now say with pride that the federal government has finally made good on its promise of inclusion. Under President Bola Ahmed Tinubu, the South East Development Commission has not only been established but is fully operational, with a confirmed board and leadership at its helm.
“Today, as we inaugurate over 20,000 new Renewed Hope Partners, we are
empowering a formidable network of grassroots ambassadors. You are the bridge between government and the people, the voice of the Renewed Hope Agenda in every ward, community, and polling unit across Abia State and beyond.”
