Amidst cries and lamentations by citizens of Nigeria concerning economic hardship, multiple taxes and inflation, Effiong Inibehe, a human rights lawyer, said President Tinubu is fulfilling the promises he made to Nigerians.
Inibehe said this while commenting on the new cybersecurity levy of 0.5% and the general economic turmoil of Nigeria since President Tinubu’s administration took over from Buhari on May 29, 2023.
On his X (formerly Twitter) handle, Inibehe said it was wrong for Nigerians to expect nothing shut of the current economic realities of Nigeria. He chided supporters of Tinubu during the 2023 presidential campaign and election.
He said, “President Tinubu is doing exactly what he promised to do or what you were warned he was going to do. So what is the cacophony of his supporters about?
“If your support for his candidacy was actuated by ideological inclination or policy preferences, why are you suddenly disturbing us with your pretentious noises on X?
“You told us to respect your choice of candidate, and the man you chose is doing what he promised to do and you’re crying.
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“Isn’t this a sign of mental degeneracy? Your fatalistic political leaning has led us here so just be quiet.”
In Nigeria under Tinubu, citizens have been grappling with tough economy, characterized by taxes, inflation, corruption and crushing high food prices. The price of petrol continues to climb with recurring scarcity.
According to the Chairman of Dangote Group, Aliko Dangote, the worst economic decision made by Tinubu’s administration was floating the naira which led the naira to climb from the range of N400 during Buhari’s presidency in the official market to over N1000 to the US dollar, in Tinubu’s presidency. Also was the removal of fuel subsidy that led to poor performing of the country’s currency, Naira. Nigeria runs its economy largely through the use of generating sets powered by petrol and diesel.
Dr A O Lawal, a renowned Economist, and writer, in July, in an interview with a national daily warned the CBN against floating the Naira and following the recommendation of International Monetary Fund (IMF) and World Bank.
Dr Lawal said Nigeria’s economy that relied heavily on importation cannot withstand a floated currency. “What they are doing today is to destroy the Naira for us, if care is not taken,” he said concerning IMF and World Bank suggestions for floating the Naira. Lawal further argued that Nigeria’s “economy is not so strong because we depend heavily on the importation of machinery and even raw materials.”
Professor Ndubuisi Ekekwe also condemned the decision of Tinubu’s government to float the currency and removal of subsidy. The Chairman of Tekedia Capital maintained that floating the Naira by Cardoso Yemi-led CBN was a policy. Professor Ekekwe added, “Indeed, floating the Naira without life jackets of production has sent Naira to uncontrollable seas!”
President Bola Tinubu has, however, maintained that his administration will not go back on the removal of fuel subsidy. He maintained that the fuel subsidy was a monster that needed to go.
