The New Nigeria People’s Party (NNPP) has called on the Federal Government to urgently review its economic policies to align with the prevailing sufferings of the people and boost productivity in the country.
In its one-year assessment of the Tinubu administration, the party noted with dismay that the Renewed Hope Agenda of the government was not yielding the desired benefits but rather it has inflicted untold hardship on the people.
According to a statement by NNPP National Publicity Secretary, Ladipo Johnson, the economic indicators and performance index of the economy were not giving Nigerians any hope because they are not feeling the impact of government on their daily wellbeing.
“The renewed hope now looks like a feeble orchestration, hope is dimming”, it said.
The party criticised the implementation process of the subsidy removal which it said has had “real consequences” on inflation and cost of living generally.
“As reported by the National Bureau of Statistics (NBS), inflation now stands at 33.69 percent, highest in 28 years and food inflation at 40.53 per cent in April. This is not comforting in any way”.
It also highlighted the fiscal crisis being experienced till date, saying the devaluation of the naira and the resort to huge borrowing from local and foreign institutions should be carefully reviewed in tandem with the effects on the economy and the need for prudent management of resources.
In this regard, NNPP called for a substantial reduction in the cost of governance and a clear eye on leakages, corruption and accountability. It also charged the government to prioritise its spending to reflect prevailing realities rather than wasteful expenditures.
“While education and health in particular are underfunded, we can see much wasteful application of scarce resources in less important activities which suggest misplaced priorities”
The statement said NNPP was concerned about the scores of manufacturing companies that have now left the country even as the Manufacturers Association of Nigeria (MAN) said 367 companies stopped production activities from December 2023 and that among those still in business, 335 are in distress, while N350 billion worth of goods were not sold.
The issues of multiple taxation and unfriendly policies were also noted with huge impact on cost of living just as the party said the recent decision of Total Energy to take its $6 billion investment to Angola instead of Nigeria was regrettable.
“In our candid opinion, the last one year has been a nightmare for Nigerians who are now poorer amidst poverty, hunger and untold suffering. Government said it is renewing hope but this has to translate into tangible deliverables to hedge against the prevailing hunger and starvation among the populace.
“Regrettably, the unrelenting dire security situation in the country is worsening the concerns of the people and this should be a priority to the government as we call for a drastic review of policies and programmes of the administration. We cannot end this appraisal piece without advising the Tinubu administration to focus more on governance and avoid unnecessary distractions like the on-going intervention of the Federal Government in the Emirship stool in Kano, which is purely a State affair according to the 1999 Constitution as amended. President Tinubu should warn his appointed officials to allow him to concentrate on the things he was elected into office for instead of engaging in frivolities of politicking. Instead of deploying soldiers to provide cover for someone Constitutionally removed from office, such soldiers should be deployed to confront Terrorists, bandits, kidnappers, armed robbers and others who are making life difficult for Nigerians. Nigerians deserve better than what they are experiencing now.
Chioma Kalu
Follow us on:
