Nigerian Economy Worse Under Tinubu – Former APC Chieftain

Former All Progressives Congress (APC) Deputy National Publicity Secretary Timi Frank has criticised the plight of the Nigerian economy under President Bola Tinubu.

In a statement made Monday, Dec. 18, Frank stated that Nigerians had experienced the worst types of economic suffering and hunger in the last six months of Tinubu’s government than at any other period in the country’s history.

While Tinubu’s much-touted investment drive has yet to materialise, the few current investors in the country, such as Proctor & Gamble, Shoprite, and Jumia Foods, are leaving in droves.

Frank said: “This is going to be the first Christmas to be celebrated by Nigerians under Tinubu’s administration but it’s going to be the worst and a nightmare for Nigerians because they cannot even afford foodstuffs and drinks to celebrate the Yuletide.

Read Also: Nigeria’s inflation climbs to 28.20% in October — NBS

“Naira scarcity is biting harder. Nigerians now buy Naira before they can use Naira. They cannot afford a bag of rice under his government because the cost is way above the N30,000 minimum wage.

“Salaries are not being paid. Now the new minimum wage. Wage award not paid. No cash transfer to vulnerable Nigerians after taking a World Bank facility to that effect.

“Whatever they have saved has been eroded by inflationary pressures which now stands at over 28 percent and the high cost of petroleum products following abrupt removal of fuel subsidy by Tinubu in May. World bank also just confirmed that 99.9% of Vilnetabke Nigerians yet to receive FG cash transfer.”

He continued: “How can new investors come to a country where the rule of law is not working?

“They cannot come because they have lost confidence in this administration over legitimacy issues both locally and internationally.

“His bad policies and the thriving corruption in this administration are scaring away investors.

“The only thing the government has achieved in the last six months is the looting of the country and paying lip service to the fight against corruption.

“So which right thinking investor will come to a country where the judicial system is corrupt?”

Timi Frank stated that Tinubu’s men are in charge of crucial areas of the economy, and that the country is dysfunctional because all sectors under his administration have been purposefully compromised and corrupted.

He said: “As a result of a highly compromised judicial system under Tinubu, investors do not have confidence of getting justice if any agreements they enter into is breached or disputed.

“Also, investors have lost confidence in the National Assembly, who are saddled with making laws especially to aid the ease of doing business among others, but practically, it is known to be one of the most corrupt arms of the present government.”

While Tinubu dubbed the 2024 Appropriation Bill the “Budget of Renewed Hope,” he claims the reality confronting Nigerians is a “Budget of Renewed Hopelessness,” owing to massive fraudulent insertions into the fiscal legislation.

He added: “So right now, the future of Nigeria lies in the hands of Nigerians. Like every other nation, when a government has failed, the only option is for the people to protest and call for a restoration of sanity.

“Therefore, the only thing that can bring back sanity is for Nigerians to wake up and join the upcoming peaceful protests in January which we are planning and mobilizing Nigerians for to rescue the country.

“If they want a better Nigeria, then they must wake up and fight through peaceful protests.

“Nigerians must take their destiny in their hands by joining the peaceful protest in January to support the diaspora protest locally and internationally.”