Timi Frank, former Deputy National Publicity Secretary of the All Progressives Congress (APC), expressed grave concern over the state of the economy under President Bola Tinubu's administration.
In a statement issued on Monday, Dec. 18, Frank lamented that Nigerians have endured unprecedented economic hardships and hunger in the past six months compared to any other period in the nation's history.
Frank pointed out that despite
the much-touted investment drive by Tinubu, tangible results have yet to
materialize. Existing investors, including Proctor and Gamble, Shoprite, and
Jumia Foods, are reportedly leaving the country in significant numbers.
"This marks the first
Christmas under Tinubu's administration, but it is poised to be the worst for
Nigerians who struggle to afford basic necessities for the Yuletide
celebration," Frank stated. He highlighted the escalating challenges, such
as Naira scarcity, the soaring cost of living, and the inability of many
Nigerians to purchase essentials like rice due to the high cost exceeding the
N30,000 minimum wage.
Frank further criticized the
non-payment of salaries, the delay in implementing the new minimum wage, and
the absence of cash transfers to vulnerable citizens despite a World Bank
facility earmarked for that purpose. He underscored the impact of inflation,
standing at over 28 percent, and the elevated cost of petroleum products
following the abrupt removal of fuel subsidy by Tinubu in May.
Expressing doubts about the
attractiveness of Nigeria to new investors, Frank questioned the efficacy of
Tinubu's administration in upholding the rule of law, citing legitimacy issues
both domestically and internationally. He attributed the perceived lack of
investor confidence to flawed policies, widespread corruption, and the
government's alleged focus on looting rather than combating corruption.
According to Frank, critical
sectors of the economy are overseen by individuals associated with Tinubu,
contributing to the deliberate compromise and corruption of various sectors. He
criticized the compromised judicial system, asserting that investors lack
confidence in obtaining justice in case of disputes.
Furthermore, Frank expressed
distrust in the National Assembly, accusing it of corruption despite its
responsibility for legislating laws to facilitate business activities. He
contended that the 2024 Appropriation Bill, dubbed the "Budget of Renewed
Hope" by Tinubu, was marred by fraudulent insertions, leading to what he
described as a "budget of renewed hopelessness."
Frank urged Nigerians to take a
stand against the perceived failures of the government by participating in
peaceful protests planned for January. He emphasized the importance of citizens
joining both local and international protests to call for the restoration of
sanity and a better future for Nigeria.
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