Tinubu’s economic policies ‘recipe for poverty’ – Oborevwori

Delta State Governor, Sheriff Oborevwori, has slammed President Bola Tinubu’s economic policies, specifically the removal of petroleum subsidies and the floating of the Naira.

The governor argued that any potential benefits from these policies have been completely offset by the devaluation of the Naira and soaring inflation.

He criticized the president’s economic policies for unleashing unprecedented hunger, poverty, and mass unemployment on Nigerians, turning Nigeria into the world’s poverty capital.

Oborevwori said this in a statement signed by his Executive Assistant on New Media, Felix Ofou, while reacting to Senator Ovie Omo-Agege’s remarks as former Deputy President of the Senate.

At a recent All Progressives Congress (APC) event, Omo-Agege applauded the economic policies of the Tinubu-led Government, stressing that it has led to increased federal allocation to State and local governments, rising economic growth rates, declining imports, higher exports, and higher incomes for farmers.

Omo-Agege was also quoted as saying that despite the huge Federal allocation coming to the state due to Tinubu’s economic policies, there are no meaningful projects or development to show for it, despite the state government and Local Government Areas receiving over N900 billion over the last 18 months.

The former lawmaker specifically accused the incumbent Governor of mismanaging Delta State funds and paying debts with what is left, despite increased federal allocation and revenue from 13 percent derivation.

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However, Oborevwori disputed this claim, questioning the value of the increased funds amidst galloping inflation, Naira devaluation, and widespread poverty.

He asked, “Can we really talk of increased money in any state in Nigeria? What is the worth of such money in the face of galloping inflation, gross devaluation of the Naira, unparalleled hunger, mass poverty, mass unemployment, daily closure of major factories and multinationals in the country?”

The Governor also emphasized that the World Bank and International Monetary Fund (IMF) have stated that Tinubu’s economic policies are not working, thereby transforming Nigeria into the poverty capital of the world.

“Both the World Bank and the International Monetary Fund (IMF) have rightly stated that Tinubu’s economic policies are not working. That the policies have transformed Nigeria into the poverty capital of the world, with over 130 million of the population living below the poverty mark,” he said.

Oborevwori insisted that Tinubu’s economic policies have unleashed economic hardship on Nigerians and are not a desirable model for the state.

“Is this the model that Omo-Agege is recommending for Delta to copy? A model that has unleashed economic hardship on the people? Why would anyone recommend APC’s T-pain as remedy to our woes? Obviously, this is not a path desirable for Deltans and one they would want to embrace at this time,” the statement added.

He called for caution against embracing policies that allegedly exacerbate poverty and suffering.