Ologbondiyan Accuses Tinubu Of Driving Nigeria Into Crisis With His Economic Policies

Ologbondiyan Accuses Tinubu Of Driving Nigeria Into Crisis With His Economic PoliciesKola Ologbondiyan, the former spokesperson for the Peoples Democratic Party (PDP), has sharply criticized President Bola Tinubu’s economic policies, particularly the removal of fuel subsidies and the floating of the naira. Ologbondiyan described these measures as highly detrimental to Nigeria’s economy and its citizens’ well-being.....KINDLY READ THE FULL STORY HERE▶

Speaking on Channels Television’s The Morning Brief on Monday, Ologbondiyan argued that a gradual phase-out of fuel subsidies, combined with targeted palliatives such as subsidized public transportation, would have been a more effective and compassionate approach. He expressed concern that the government’s focus on providing subsidized rice overlooked the broader, more urgent economic issues facing Nigerians.

“The two major decisions made by President Tinubu — the subsidy removal and the naira float — are what have brought Nigeria to its knees,” Ologbondiyan stated. “Under the PDP administration in the past, we had a phased removal of subsidies, and that came with palliatives to cushion the effects. But now, the APC government expects Nigerians to buy rice at ₦40,000 per bag. The needs of Nigerians go beyond rice.”

Ologbondiyan also criticized the lack of effective engagement by the PDP in presenting viable alternatives to the current administration’s economic reforms. He called on the PDP to do more in terms of policy advocacy and engagement with the government to address the nation’s economic challenges.

The former PDP spokesperson pointed out that a better alternative to fuel subsidy removal would have been the establishment of a more efficient public transportation system, allowing Nigerians to rely on subsidized transport instead of expensive fuel.

Since the subsidy removal, the price of Premium Motor Spirit (PMS) has skyrocketed from ₦189 per liter in May 2023, when President Tinubu assumed office, to over ₦1,000 per liter in recent months, exacerbating the financial hardship faced by many Nigerians.

Ologbondiyan’s remarks followed a meeting of PDP governors over the weekend, during which they urged President Tinubu to implement economic reforms to address the mounting challenges facing the country.

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