Former APC Deputy National Publicity Secretary, Timi Frank, has voiced deep concern about the deteriorating socio-economic conditions during President Bola Tinubu’s tenure.
Frank, in a statement issued on Monday, highlighted the severe economic hardships faced by Nigerians, citing escalating poverty, salary delays, inflation surges beyond 28 percent, and the cost of living soaring.
He pointed out that the abrupt removal of fuel subsidies, accompanied by the scarcity of the Naira, had aggravated the populace’s suffering.
“This is going to be the first Christmas to be celebrated by Nigerians under Tinubu’s administration but it’s going to be the worst and a nightmare for Nigerians because they cannot even afford foodstuffs and drinks to celebrate the Yuletide.
“Naira scarcity is biting harder. Nigerians now buy Naira before they can use Naira. They cannot afford a bag of rice under his government because the cost is way above the N30,000 minimum wage.
“Salaries are not being paid. No new minimum wage. Wage award not paid. No cash transfer to vulnerable Nigerians after taking a World Bank facility to that effect.
“Whatever they have saved has been eroded by inflationary pressures which now stands at over 28 percent and the high cost of petroleum products following abrupt removal of fuel subsidy by Tinubu in May.”
Frank criticised the Tinubu administration’s alleged failure in its investment drive, noting the exit of major investors like Proctor and Gamble, Shoprite, and Jumia Foods. He attributed this flight to the erosion of confidence in Nigeria’s legal system, widespread corruption, and legitimacy concerns.
According to him, corruption thrives, and sectors under Tinubu’s governance are compromised and dysfunctional. He particularly highlighted the compromised judicial system, causing investors to distrust agreements due to potential legal disputes.
Regarding the 2024 Appropriation Bill titled the “Budget of Renewed Hope,” Frank deemed it a misnomer, describing the document as fostering hopelessness due to alleged fraudulent inclusions.
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