Atiku Abubakar, former Vice President and presidential candidate of the Peoples Democratic Party (PDP) in the 2923 election, for the umpteenth time, called out President Bola Tinubu, on Sunday for consistently punishing Nigerians with bad policies.
Atiku, in a statement he personally signed, is emphatic that none of the policies initiated by the President since coming into power on May 29, 2023, has benefited the people, but rather citizens have found themselves under the weight of crippling conditions as a result.
This time, the former VP, is citing Tinubu’s alleged decision to increase VAT rate from 7.5 per cent to 10 per cent, on the heels of the jerk up of the price of Premium Motor Spirit (PMS), to all-time high of N897 by the Nigerian National Petroleum Company Limited (NNPCL), last week.
Bashing the President for listening to his “coterie of advisers” who were misleading him, Atiku, said in a statement, that the move unveiled a new era of regressive and punitive policies, and its impact is destined to deepen the domestic cost-of-living crisis and exacerbate Nigeria’s already fragile economic growth.
The statement, further read: “President Tinubu and his entourage seem to be resorting to their familiar tactic: heaping burdens upon the impoverished while steadfastly ignoring their extravagant excesses! Tinubu’s actions reflect a profound insensitivity to the plight of the less fortunate as he indulges in the opulent renovation of villas and the acquisition of new jets and vehicles for himself and his family.
“One need not be an economist to grasp the ominous implications of President Tinubu’s ill-conceived policies for Nigeria’s future. The relentless rise in taxes and interest rates has proven excessively onerous, debilitating businesses of all sizes and leading to job losses while intensifying the suffering of the poor. The manufacturing sector, in particular, has endured relentless strife since Tinubu’s ascendancy, with its contribution to the GDP diminishing by over 20% since December 2023, as reported by the NBS.
“In early August, Tinubu turned his attention to agriculture. As is customary with this administration, a new policy was clandestinely formulated and announced, permitting duty-free importation of agricultural commodities such as wheat, maize, and paddy, despite vehement opposition from farmer groups nationwide. This policy poses a grave threat to Nigeria’s food security ambitions, as local farmers, facing unfair competition from low-cost producers in Asia, Europe, and America, are compelled to reduce or entirely abandon their production efforts. It jeopardises job creation, wealth generation, and the sector’s long-term prosperity, casting a shadow over Nigeria’s sustainability and development.
“President Tinubu and his advisers would be wise to redirect their efforts towards crafting sustainable solutions to the systemic shocks afflicting the economy rather than compounding the crisis with measures destined to ignite further turmoil.”