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Tinubu’s Economic Policies Impoverising Nigerians, Eastern Union Alleges

Various economic policies of President Bola Tinubu are impoverishing Nigerians, the Eastern Union, a pressure group championing good governance and justice in Nigeria has claimed.

EU’s National President, Charles Anike, stated this in an interview with THE WHISTLER in Awka on Saturday.

He said Tinubu had during his campaign ahead of the 2023 general election promised to continue with the economic policies of his predecessor. Our correspondent reports that among Tinubu’s policies are the removal of fuel subsidy and floating of naira at the parallel market.

Anike said, “These economic policies are crafted against poor masses. That has increased the suffering of common Nigerians. The government, rather than thinking outside the box, is busy imposing different direct and indirect taxes on the citizens and removing subsidies on household commodities.”

He described the frequency with which Tinubu’s administration obtains foreign loans as a pointer that the president lacks realities of functional economic policies.

In his words, “The government must understand that every loan, especially foreign loans, will always come with conditions that will usually not be favourable to the citizens. It is also very disheartening that those loans were not for investments but to satisfy the insatiable appetite of those at the corridors of power.”

He, however, said Nigeria’s economic woes dated back to the military eras, adding that subsequent civilian regimes aggravated the situation by not finding pragmatic solutions.

He said, “I don’t think it would be right to blame the Tinubu government alone for the poor state of the economy. The foundation dates back to the military. The successive military governments plundered and laid the foundation for the poor economy of the country. Then, various civilian governments continued to worsen the situation by incessant borrowing of foreign loans, especially this past Buhari regime.”

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