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| Atiku Abubakar |
The ex-Vice President reminisced about Tinubu's commitment to "reshape our economy for growth and prosperity through employment, food security, and eradicating extreme poverty."
Atiku Abubakar, the former PDP presidential candidate, asserts that Nigeria has not progressed under President Bola Tinubu's leadership after one year.
Atiku characterized Tinubu's first year as an array of experimental economic strategies.
The ex-Vice President reminisced about Tinubu's commitment to "reshape our economy for growth and prosperity through employment, food security, and eradicating extreme poverty."
Tinubu has also mentioned aspirations to expand the economy at double-digit growth rates to a US$1 trillion valuation within six years, to alleviate suffering, and to address Nigeria’s escalating cost-of-living issues.
In a recent statement, Atiku suggested that Nigerians might have initially felt reassured by Tinubu's promises following their ordeal with the previous economic policies of ex-President Muhammadu Buhari.
"Tinubu did not present a detailed plan for the economy's 'reshaping' but quickly initiated various policies to pursue it.
"In May 2023, he removed PMS subsidies, followed by the CBN's introduction of a new foreign exchange policy in June, consolidating several official FX rates into one.
"Subsequent policies included tightening monetary policy to curb Naira circulation, increasing monetary policy rates, implementing cost-reflective electricity tariffs, and introducing a cybersecurity tax.
"After a year, Tinubu's assurances of economic growth and reducing hardship have not been realized. His measures have further destabilized Nigeria's macroeconomic environment.
"The nation's economy is more vulnerable now than a year ago, with persistent issues of unemployment, poverty, and distress worsening since the Buhari administration.
"Nigeria, once the leading economy in Africa, has now fallen to fourth place behind Algeria, Egypt, and South Africa. The hopes of its citizens have been shattered, contrary to the administration's claims, as the country's economic challenges have intensified," Atiku remarked.
