Atiku To Tinubu: Act Fast Before Economy Sinks Deeper, Admit Failures


…Says, policies dashing hopes, creating pain, causing despair

Former vice president Atiku Abubakar, has said President Bola Ahmed Tinubu and his economic management team must act fast before the economy sinks deeper into the abyss by swallowing their pride, admit their missteps and failures, and follow those who know the terrain.

This was as he said that poor response to nation’s challenges by the Tinubu-led administration is setting stage for a prolonged and deeper economic crisis.

Atiku, who stated these in a statement he personally signed, noted that the economy’s performance had, in recent weeks and months, been a subject of intense discourse among Nigerian citizens at home and abroad.

The presidential candidate of the Peoples Democratic Party (PDP) in the 2023 elections, said that Nigerians are gravely concerned, and rightly so, that Tinubu’s poor response to Nigeria’s economic challenges is setting the stage for a prolonged and deeper domestic economic crisis.

Atiku further said that Tinubu’s economic policies, drawn from a so-called renewed hope agenda, are ironically dashing hopes, creating pain and causing despair.

In his words; “The private sector is shrinking by the day as small businesses are emasculated and as Multinational Companies, confused and weary of the economy, leave Nigeria in droves.

“The intense cost of living pressures has created more misery for the poor in towns and villages. There is HUNGER IN THE LAND as basic commodities, including BREAD, are becoming out of reach for average Nigerians.

“His 2024 budget is a business-as-usual exercise, bereft of concrete ideas and actions that would support Nigeria’s journey toward economic transformation – consisting mainly of wasteful expenditures to cater to a bloated Federal Government.

“Budget 2024 will not facilitate growth and cannot empower our citizens to earn a living and live a decent life.

“BAT has shown no capacity to deal with the adverse and disastrous impact of the new subsidy regime on the people and businesses and the new foreign exchange policy, which provides for a free-floating exchange rate.

“His initiatives are literally uninformed, arbitrary, and chaotic. BAT’s palliatives are too mean, pitiable, and contemptuous of the poor. He seems genuinely lost, bewildered, and overwhelmed.

“To mask their failures, BAT and his political appointees are busy blaming his predecessor in office for bequeathing a ‘dead’ economy. This is a familiar game popularised by former President Buhari while in office,” he said.

Atiku said that the development reinforced what Nigerians already know, that President Tinubu came into office unprepared.

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