Tinubu has destroyed Nigeria’s middle class — PRP

The Peoples Redemption Party (PRP) has criticised the economic policies of President Bola Tinubu, alleging that his administration has dismantled Nigeria’s middle class.

PRP Chairman, Bello Falalu, speaking at a press conference in Abuja yesterday, accused the President of failing to deliver good governance, impoverishing the people, and worsening Nigeria’s economy.

He hinted at a possible merger with the African Democratic Congress (ADC) to challenge the ruling All Progressives Congress (APC) in the 2027 general elections.

Falalu stated that the alliance has become necessary due to the leadership failures of the APC and President Tinubu.

He lamented significant economic fluctuations, citing the Gross Domestic Product (GDP), which declined from $493 billion in 2015 to an estimated $362 billion in 2024.

According to him, the 27% GDP decline reflects the grim reality of Nigeria’s economic retrogression over the past nine years, which has plunged millions into poverty and stagnation.

Falalu also criticised the mismanagement of substantial revenue from the removal of petroleum subsidies, multiple exchange rates, and increased energy costs, noting that these have failed to translate into promised social amenities.

“Instead, we are left with mere claims of slight budget deficit reductions, misuse of statistics to deceive Nigerians, and the failure to address rampant wasteful spending and ostentatious consumption among our leaders, notable examples of which are the purchase of luxury SUVs for legislators and a new, bigger aircraft for the President,” he said.

He further noted that a 38% interest rate charged by banks stifles the development of small and medium-sized enterprises (SMEs), which are crucial for economic growth.

Falalu disclosed plans for PRP and ADC to discuss an alliance that may lead to a merger, emphasizing the need for credible elections and a better future for the younger generation.

“We invite all other parties with similar ideologies to join us. PRP is a leftist party, and ADC leans towards the center. We believe the essence of politics and democracy is to build the nation,” he said.

ADC Chairman, Nwosu, echoed Falalu’s sentiments, emphasizing the need to form a value-driven political party. He called on opposition politicians to unite around a clear ideology and vision for the future.

“Political parties should not just be seen as a means to contest elections. It is time for change. We want to come together and leave behind political parties that will become legacies for the future,” Nwosu said.

He expressed optimism that more parties would join the movement in the coming months, adding, “Nigerians are tired.”