“Tinubu and his appointees fixated on destroying Nigeria’s economy”

The People’s Redemption Party (PRP), has accused President Bola Tinubu and his appointees of deliberately promoting policies to destroy the Nigerian economy.

A statement issued on Thursday by the National Chairman of the PRP, Falalu Bello, said the current situation in the country calls for concerns as ordinary citizens were going through tough times.

Bello noted that the unplanned removal of subsidies on fuel and electricity as well as the devaluation of the naira has truncated the economy and has made life difficult for Nigerians.

Part of the statement read: “Removal of subsidies on fuel, electricity, etc., devaluation of our currency, increases in interest rates, etc., all International Monetary Fund (IMF) and World Bank (WB) economic policies, have combined to push the nation’s MISERY INDEX to an unprecedented level.

“Head line inflation is inching up to 40% and rising, poverty level is exercerbating, unemployment and underemployment levels are increasing because of low capacity utilization and factory closures, taxes are being increased notwithstanding these developments so also are interest rates! How realistic, humane, and sensible are these actions by government?

“Our party, the Peoples Redemption Party (PRP) view these developments with contempt as it appears that our leadership either are aloof to the suffering of the common man or they are following someone’s script to impoverish Nigerians.

“A democratically elected government should have a sense of duty, honour, and care of the electorate that brought it to power. We see none of these in our leadership today.

“Indeed, even the Western world’s institutions have come out recently to advise the Nigerian government that the policies being pursued and implemented wouldn’t take us to Eldorado or out of our woods!

“Yet President Tinubu, His Ministry of Finance, His Central Bank, and his Economic team, are so fixated on the path of self-destruction of our economy using archaic IMF/World Bank models and methodologies.

“From 1975 till date, from Latin America to Africa and beyond, no nation prospered or progressed using IMF or World Bank economic prescriptions.”