*Former Vice-President Atiku Abubakar faults President Bola Ahmed Tinubu鈥檚 administration, arguing the Nigerian economy has slipped to the 4th position lagging behind Algeria, Egypt, and South Africa, and citizens鈥� hopes have been dashed, as the country鈥檚 鈥榚conomic woes have multiplied鈥�

Isola Moses | 绿帽献妻

Ex-Vice-President Atiku Abubakar, again, has taken a swipe at President Bola Ahmed Tinubu鈥檚 administration, arguing that the Nigerian economy has slipped to the 4th position lagging behind Algeria, Egypt, and South Africa, and citizens鈥� hopes have been dashed, just as the country鈥檚 鈥榚conomic woes have multiplied鈥� in his last one year in office.

Atiku, in his recent statement titled, 鈥淣igeria Is Not Working: One Year Of Tinubu Is A Cocktail Of Trial-And-Error Economic Policies鈥�, on his assessment of the current administration since May 29, 2023, faulted President Tinubu for failing to fulfill his promise to grow the country鈥檚 economy as well as end the misery of Nigerian consumers.

Since he mounted the saddle as the Nigerian leader May 29 last year, President Tinubu had introduced sweeping reforms, including termination of the controversial fuel subsidy regime and unification of the Foreign Exchange (Forex) rate among others, aimed at revitalising the economy and increasing the investment profile of the country.

Atiku also recalled President Tinubu raised the hopes of Nigerians with his pledge to 鈥渞emodel our economy to bring about growth and development through job creation, food security and an end of extreme poverty.鈥�

He noted: 鈥淭inubu laid out no plans for the 鈥榬emodeling鈥� of the economy but soon embarked on a cocktail of policies to achieve it.

鈥淚n May 2023, he eliminated PMS subsidies, and a month later, the CBN implemented a new foreign exchange policy that unified the multiple official FX windows into a single official market.

鈥淢ore policies followed in rapid succession: the tightening of monetary policy to reduce Naira liquidity, a hike in monetary policy rates, the introduction of cost-reflective electricity tariff, and a cybersecurity tax.

The ex-Vice President also stated: 鈥淪ince then, Tinubu has also spoken about growing the economy at double-digit rates to US$1 trillion in six years, ending misery, and bringing immediate relief to Nigeria鈥檚 cost-of-living crisis.

鈥淥n listening to this, Nigerians must have breathed a sigh of relief after their experience with ex-President Buhari鈥檚 8 years of economic misadventure.鈥�

Many others have equally argued that such tough but lofty economic measures the Tinubu administration has introduced have induced untold hardships and increasing cost of living for millions of Nigerian consumers.

Former Vice-President Atiku also said, after a year in office, the country鈥檚 economy had deteriorated under President Tinubu鈥檚 watch.

He stated: 鈥淧redictably, 12 months on, Tinubu鈥檚 pledge of growing the economy and ending misery remains unfulfilled,鈥� Atiku said while appraising Tinubu鈥檚 performance in office.

鈥淗is actions or inactions have significantly worsened Nigeria鈥檚 macroeconomic stability. Nigeria remains a struggling economy and is more fragile today than it was a year ago. Indeed, all the economic ills 鈥� joblessness, poverty, and misery 鈥� which defined the Buhari-led administration have only exacerbated.鈥�

Atiku also contended that 鈥淎frica鈥檚 leading economy has slipped to the 4th position lagging behind Algeria, Egypt, and South Africa.

鈥淐itizens鈥� hopes have been dashed (and not renewed contrary to the propaganda of the administration) as Nigeria鈥檚 economic woes have multiplied.鈥�

According to the former Vice-President, Tinubu has 鈥渆mbarked on a cocktail of policies鈥� with no concrete plans to achieve the remodelling of the economy he promised.

Atiku said despite high hopes when the President assumed the reins of leadership 聽May 2023, 鈥淣igeria is worse off.鈥�

He further stated: 鈥淧redictably, 12 months on, Tinubu鈥檚 pledge of growing the economy and ending misery remains unfulfilled. His actions or inactions have significantly worsened Nigeria鈥檚 macroeconomic stability.

鈥淣igeria remains a struggling economy and is more fragile today than it was a year ago. Indeed, all the economic ills 鈥� joblessness, poverty, and misery 鈥� which defined the Buhari-led administration have only exacerbated.鈥�

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