As events marking the first year in of the administration of President Bola Tinubu continue, the New Nigeria Peoples Party (NNPP) has called on the Federal Government to urgently review its economic policies with the aim of alleviating the current hardship being experienced by the citizens, coupled with boosting industrial production.
According to the party, the Renewed Hope Agenda of the government is not yielding the desired benefits.
In a statement by the national publicity secretary, Ladipo Johnson on Wednesday, the party stated that the economic indicators and performance index of the economy showed Nigerians are not feeling the positive mpact of government.
It criticised the implementation process of the petrol subsidy removal, which it said, has had “real consequences” on inflation and cost of living generally.
“As reported by the National Bureau of Statistics (NBS), inflation now stands at 33.69 per cent, highest in 28 years and food inflation at 40.53 per cent in April. This is not comforting in any way.”
On the prevailing fiscal crisis, the party suggested that the devaluation of the naira and the resort to huge borrowing from local and foreign institutions should be carefully reviewed in tandem with the effects on the economy and the need for prudent management of resources.
The NNPP called for a substantial reduction in the cost of governance, especially by blocking possible leakages and corruption, just as it underlined the importance of accountability.
The party equally called on the government to prioritise its spending to reflect prevailing realities rather than what it described as wasteful expenditures.
While education and health in particular are underfunded, we can see much wasteful application of scarce resources in less important activities which suggest misplaced priorities,” it remarked.
The NNPP said it was concerned about the number of manufacturing outfits that have relocated from the country, recalling that the Manufacturers Association of Nigeria (MAN) noted that 367 companies stopped production from December 2023, while 335 ones still in business are in distress, even as N350 billion worth of goods were not sold.
The party observed that, “The issues of multiple taxation and unfriendly policies were also noted with huge impact on cost of living just as the party said the recent decision of Total Energy to take its $6 billion investment to Angola instead of Nigeria was regrettable.
“In our candid opinion, the last one year has been a nightmare for Nigerians who are now poorer amidst poverty, hunger and untold suffering.
“Government said it is renewing hope but this has to translate into tangible deliverables to hedge against the prevailing hunger and starvation among the populace.
“Regrettably, the unrelenting dire security situation in the country is worsening the concerns of the people and this should be a priority to the government. We call for a drastic review of policies and programmes of the administration”.
The party advised the Tinubu administration to focus more on governance and avoid unnecessary distractions, like the “on-going intervention of the Federal Government in the Emirship stool in Kano, what is purely a state affair according to the 1999 Constitution as amended.
“President Tinubu should warn his appointed officials to allow him to concentrate on the things he was elected into office for instead of engaging in frivolities of politicking. Instead of deploying soldiers to provide cover for someone Constitutionally removed from office, such soldiers should be deployed to confront terrorists, bandits, kidnappers, armed robbers and others, who are making life difficult for Nigerians.
Nigerians deserve better than what they are experiencing now.”
