Nigeria's Economy in Crisis Under Tinubu, Say Labour Party Lawmakers

 

The Labour Party (LP) Caucus in the House of Representatives has expressed grave concerns over the state of Nigeria's economy since President Bola Tinubu assumed office a year ago. In a statement signed by their leader, Afam Ogene, the lawmakers claimed that the economy has "dangerously continued" in free fall, casting doubt on Tinubu's ability to rescue the nation.

 

The caucus highlighted that rising insecurity and economic hardship contradict Tinubu's promises under the "Renewed Hope" agenda. They noted that their initial optimism had faded as the administration struggled to address critical issues.

 

“Our Caucus had taken a backseat in the patriotic hope that, maybe, just maybe, the beneficiary administration would be able to wrought magic and pull the nation from the precipice of economic annihilation. But, as can be obviously felt by the blind and seen by the deaf, the entire country has, after one year, come to the full and unambiguous understanding of what President Bola Tinubu meant when he said that his administration would continue with the legacies of his predecessor,” the statement reads.

 

The lawmakers urged Tinubu to urgently prioritize reducing the suffering of Nigerians by ensuring food security, access to clean water, healthcare, and education. They stressed that addressing poverty and ensuring these necessities are vital for maintaining peace in the country.

 

Additionally, they called for a more vigorous fight against corruption, emphasizing the need for transparent governance and accountability. The caucus warned against relying on foreign financial institutions whose policies may not benefit the Nigerian populace. 

Key Points:

Economic Crisis: LP lawmakers claim the economy is in a free fall under Tinubu's administration.

Insecurity & Hardship: Rising insecurity and economic hardship contradict Tinubu's "Renewed Hope" promises.

Urgent Priorities: Calls for focus on food security, clean water, healthcare, education, and anti-corruption measures.

Foreign Financial Policies: Warning against dependence on potentially harmful foreign financial institutions.