How Tinubu’s economic policy can have a human face – NNPP

As events continue to commemorate the first year of Bola Tinubu’s presidency, the New Nigeria Peoples Party (NNPP) has called on the Federal Government to urgently review its economic policies to alleviate the current hardships being experienced by citizens, coupled with boosting industrial production.

According to the party, the government’s Renewed Hope Program does not bring the desired benefits.

In a statement by National Publicity Secretary Ladipo Johnson on Wednesday, the party said economic indicators and economic performance indicators show that Nigerians are not feeling the positive impact of the government.

He criticized the implementation process of removing the gasoline subsidy, which he said had “real consequences” for inflation and the cost of living in general.

“According to the National Bureau of Statistics (NBS), inflation is currently 33.69%, the highest in 28 years, and food price inflation in April was 40.53%. This is in no way comforting.”

In view of the persistent fiscal crisis, the party suggested that devaluing the naira and resorting to massive borrowing from local and foreign institutions should be carefully considered, taking into account the effects on the economy and the need for prudent management of resources.

The nuclear power plant called for a significant reduction in management costs, especially by blocking possible leaks and corruption, while emphasizing the importance of accountability.
The party equally called on the government to prioritize its spending to reflect prevailing realities and not what it described as wasteful spending.

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“While education and health care in particular are underfunded, we can see wasteful use of scarce resources on less important activities, suggesting misplaced priorities,” it noted.

The NNPP expressed concern over the number of manufacturing plants relocated out of the country, recalling that the Manufacturers Association of Nigeria (MAN) recorded that 367 companies have ceased production since December 2023 and 335 companies still operating are in distress even as goods worth N350 billion.

The party noted that “It also noted issues of multiple taxes and unfriendly policies that have a huge impact on the cost of living, while the party said Total Energy’s recent decision to move a $6 billion investment to Angola instead of Nigeria is deplorable.

“In our sincere opinion, the last year has been a nightmare for Nigerians who are now poorer amidst poverty, hunger and untold suffering.
“The government has said it is renewing hope, but it must translate into tangible results to safeguard against the prevailing famine and famine among the population.

“Unfortunately, the unrelentingly poor security situation in the country is exacerbating citizens’ concerns and this should be a priority for the government. We call for a drastic overhaul of the administration’s policies and programs.”

The party advised the Tinubu administration to focus more on governance and avoid unnecessary disruptions such as “the continued intervention of the federal government in the Kano emirate seat, which is a purely state matter under the 1999 constitution as amended.

“President Tinubu should warn his appointed officials to allow him to concentrate on the issues for which he was elected to office instead of engaging in trivial political matters. Instead of deploying soldiers to protect a person removed from office under the constitution, they should be deployed to confront terrorists, bandits, kidnappers, armed robbers and others who make life difficult for Nigerians.
“Nigerians deserve better than what they are currently experiencing.”

NIGERIAN TRIBUNE