- The Central Bank of Nigeria’s (CBN) unification of foreign exchange markets led to naira devaluation, inflation, and increased living costs for Nigerians.
- In August, Nigerians protested economic hardship and “bad governance” for 10 days.
A former Peoples Democratic Party (PDP) spokesperson, Kola Ologbondiyan, has said that petrol subsidy removal and naira floating, introduced by President Bola Tinubu, have crippled Nigeria.
Ologbondiyan’s comments followed PDP governors’ pleas to Tinubu to urgently review policies causing citizen hardship.
The PDP governors asked President Tinubu to re-examine macroeconomics and fiscal policies to address Nigerians’ welfare.
The governors vowed to “aggressively” pursue policies reducing hardship, empathising with Nigerians suffering under “oppressive economic policies.”
On Channels Television’s ‘Morning Brief’, Ologbondiyan urged Tinubu to gradually end petrol subsidy and offer relief measures.
Ologbondiyan expressed allegiance to the PDP’s founding ideals, criticising Tinubu’s subsidy removal and naira floating decisions.
The former spokesperson noted that the PDP previously implemented phased subsidy removal with palliatives, unlike the APC’s current approach.
He argued that Nigerians’ needs extend beyond rice, emphasizing the importance of public transport systems.
Ologbondiyan lamented the lack of meaningful engagement between the PDP and the sitting government on economic reforms.
PDP governors stressed the need for comprehensive tax reforms to stimulate economic growth, ensure fairness, and promote national development.
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