He said the reform has failed to deliver any meaningful relief to citizens, insisting that ordinary people continue to suffer the consequences of the policy shift
Activist, Omoyele Sowore, has criticised the Federal Government’s fuel subsidy removal policy, saying it has worsened economic hardship for Nigerians rather than improving their welfare.
He said the reform has failed to deliver any meaningful relief to citizens, insisting that ordinary people continue to suffer the consequences of the policy shift.
Sowore spoke on Thursday during an interview on Frontline, a current affairs programme on Eagle 102.5 FM, Ilese Ijebu, which was monitored in Abeokuta.
He accused the administration of President Bola Tinubu of poor economic management, pointing to the sharp depreciation of the naira as evidence of failure.
According to him, inflation, borrowing, and stagnant wages have all worsened under the current economic framework introduced after the subsidy removal.
His words, “Well, the economic situation in the country is transparent to all of you. It’s not something that you need an expert analyst to tell you. Like the government from day one of its inception mismanaged the Nigerian economy. And how do you know?
“The strength of your currency is one of the ways you judge your economic relevance and your purchasing power. It went from 400 Naira that Tinubu met in Naira, to a dollar. And now we are now at 1,400 or 450, as the case may be, or 1,500.”
He further argued that the subsidy removal was accompanied by promises of improved infrastructure, security, and better living standards which, according to him, have not materialised.
“He removed what he called subsidy and lied to all of you that the removal of subsidy will lead to more prosperity, that he will invest the money in building roads and securing your neighborhoods and securing your schools, and he will somehow give you more money in your pocket. Ask yourself, has that happened? So all of you are vanquished economically.
“We have engaged, or he has engaged in borrowing money that has never been done before. They are borrowing money to pay salaries. They are borrowing money to do everything. The Nigerian economy can’t even fulfill its obligations to its lawful budget. So you have several ministries that get zero capital revenues for their ministries. So what economy are you talking about?”
Sowore added that the economy has deteriorated to a point where many Nigerians are struggling to meet basic needs.
“There is no economy here anymore. People are just living from hand to mouth. A lot of people can’t even lift their hand to mouth anymore. That’s where we are. So there’s nothing to evaluate economically about this Tinubu regime.
“Nigeria has gone bankrupt since removal of subsidy. How do you know you’re bankrupt? Because you can’t even fulfill basic obligations,” he added.
He also argued that only a small elite group has benefited from the policy, while the majority of Nigerians face worsening inflation and insecurity.
“I ask again, who has benefited from the removal of subsidy? If you know anybody, please point them to me. Apart from the 1% people who dominate the political and economic stage.”
Sowore maintained that government policies should be measured by their impact on ordinary citizens, insisting that the current economic direction reflects elite interests rather than public welfare.
Join us on our WhatsApp Platform @KOIKIMEDIA NEWS YOUR PAGE
koikimedia Bringing the World 🌎 Closer to Your Doorstep