Deputy Speaker ( DS ) of the House of Representatives Rt. Hon Benjamin Okezie Kalu said that over 260 new road projects worth N208 billion have been commenced by the federal government-led President Bola Tinubu with major works ongoing on the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Highway, adding that the Renewed Hope Infrastructure Development Fund supports these transformative projects.
DS Kalu, an Abia state born, APC member representing Bende constituency, announced this at the launching of his Bende town Chapter of his founded Renewed Hope Partners ( RHP), using the forum to unveil and flaunt the significant achievements of president Bola Ahmed Tinubu’s Renewed Hope Agenda Initiative ( RHAI ) with focus on economic revitalization, social welfare, security, and national development.
The event also featured the inauguration of about 20000 new members of the RHP.
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He said that under the Renewed Hope Agenda Initiative , Nigeria has recorded a 3.84% GDP growth in Q4 2024, with annual growth rising to 3.40% in 2024 from 2.74% in 2023, inflation dropped from 34.6% to 23.71% by May 2025, food prices declined by over 25% in the first quarter of 2025.
He added that President Tinubu’s administration unified the Foreign Exchange (FX) market, reduced arbitrage, boosted investor confidence, while Nigeria’s trade surplus that was driven by increased exports, also reached N3.42 trillion ($2.25 billion) in Q4 2024.
DS Kalu further said that since president Tinubu came into office on May 29, 2023, his administration has implemented bold reforms and policies that are already reshaping Nigeria’s future, arguing that the RHAI is therefore not just a slogan but a comprehensive blueprint for economic revitalisation, social welfare, security, and national development.
On the removal of fuel subsidies, Rep Kalu reported that it 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 when compared to that of the previous 2023 year
He said that the unification of the FX market has reduced arbitrage, increased transparency, boosted investor confidence , while 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.
DS Kalu further stated that through targeted interventions, inflation dropped from 34.6% to 23.71% by May 2025, with the prices of staples foods like rice, maize, and Sorghum declining by over 25% in the first quarter of 2025.
Reporting also that the launch of the Nigerian Consumer Credit Corporation (CREDICORP) with over N200 billion funding is set to bring consumer credit to 50% of Nigeria’s working population by 2030, and empower them to access essential goods and services.
According to the Deputy Speaker, Nigeria achieved a trade surplus of N3.42 trillion ($2.25 billion) in Q4 2024, by being driven by increased exports, while International agencies including Fitch and S&P Global, upgrading Nigeria to a Stable B outlook, is reflecting growing global confidence in the Nigerian economy.
On infrastructure under the RHAI, Rep Kalu, who is a second term serving federal lawmaker for Bende in Abia state, while stating that the Renewed Hope City and Estate project which aims to deliver 100,000 housing units nationwide, with special attention to the needs of low and middle-income Nigerian families, cited the establishment of the South East Development Commission (SEDC), saying that this long-awaited initiative marks a new era of inclusion and progress for the region.
The Deputy Speaker therefore urged the RHP members to play the crucial role in sustaining the gains of the Renewed Hope Agenda by carrying its message of progress to every community.
According to Rep Kalu, ” for the South East, this moment marks the end of a long wait, hence , for nearly 50 years since after the Nigeria civil war, the south east zone can now say with pride, that the current federal government led by president Tinubu has finally made good its promise of inclusion, adding that under President Tinubu, the South East Development Commission has not only been established but is fully operational, with a confirmed board and leadership at its helm.
During the joint meeting RHP Ikwuano LGA Chapter held at the weekend with the LGA APC members, the immediate past two-term representative of Ikwuano/Umuahia constituency in the House of Representatives, Rt Hon Sam Onuigbo said that the meeting decided to articulate president Tinubu’s laudable programmes achievements to disseminate them to the public to enable them be abreast of them
Hon Onuigbo listed some of these to include; the Renewed Hope Initiative ( RHI ) creation with laudable programme, stabilization of the economy, establishment of regional development commissions including the South East Development, more tertiary institutions, NELFUND, Fuel Subsidy Removal whose proceeds he said, have greatly increased federal monthly allocation to the states whose governors, including governor Dr Alex Otti of Abia, use to develop their states, some doing so impressively.
Written by GORDI UDEAJAH
