The Peoples Redemption Party (PRP) has asked President Bola Tinubu to rethink his policies.
According to experts, the twin policies of currency devaluation and removal of subsidies have increased hardship for the Nigerian population.
In a statement, on Tuesday, Falalu Bello, National Chairman of PRP, said it appears that the Tinubu administration persists in a flawed narrative devoid of practical alternatives.
“Vice President Shetima’s assertion that there are no alternatives to these harmful policies stands in stark contradiction to the basic tenets of economics, which clearly advocate for the exploration of alternatives in addressing socio-economic challenges. Such statements, especially from someone of his status in the current administration, are not only misleading but also indicative of a severe disconnect from the realities faced by ordinary Nigerians today.
“The population has been urged to endure these difficult times with the promise of relief on the horizon. However, we see no tangible evidence of this assurance in the actions of President Tinubu, his cabinet, or the broader government apparatus. Instead, we witness a continuation of profligate lifestyles, excessive spending, and the dissemination of dubious economic statistics that do little to alleviate the suffering of the Nigerian populace.
“The substantial revenue garnered from the removal of subsidies and currency devaluation have not translated into the promised provision of social amenities. Instead, all we hear are claims of slight reductions in budget deficits, which do nothing to address the issue of wasteful spending and ostentatious consumption among those in leadership.
“In the last 18 months, the misery index has significantly worsened, pushing more people into poverty as unpopular economic policies take their toll. It is disheartening to hear representatives from the World Bank commend these harmful policies, insisting that they should be sustained for at least fifteen years. Such recommendations are unbecoming of any institution that claims to prioritize the welfare of the people.
“We in the PRP firmly believe that there are viable and humane alternatives that can steer our nation towards sustainable economic recovery. Even recent reports from the Bretton Woods Institutions indicate an increase in poverty levels, underscoring the detrimental impact of poorly advised policies.
“We strongly urge President Tinubu to recalibrate his approach, implement a governance framework that prioritizes the welfare of citizens, and embrace homegrown policies that reflect the realities of our people rather than succumbing to externally imposed, anti-people measures that stifle progress.”
