Abuja, Nigeria – The Labour Party (LP) Caucus in the House of Representatives expressed deep concerns on Tuesday regarding the state of Nigeria’s economy under President Bola Tinubu’s administration. In a statement signed by their leader, Afam Ogene, the lawmakers declared that the economy has been in a “dangerous free fall” since Tinubu took office a year ago, raising doubts about his ability to steer the country out of its current economic and security crises.
“Our Caucus had taken a backseat in the patriotic hope that, maybe, just maybe, the beneficiary administration would be able to wrought magic and pull the nation from the precipice of economic annihilation,” the statement reads. However, the lawmakers argue that instead of improvement, the nation has witnessed worsening economic conditions that have left many previously hopeful citizens in shock.
The LP Caucus specifically highlighted rising insecurity and economic hardship as critical failures of Tinubu’s “renewed hope agenda.” They noted that the promise of positive change has not materialized, and the current economic situation has become untenable for many Nigerians.
In their statement, the lawmakers called on President Tinubu to urgently address the suffering of the populace by prioritizing food security, access to clean water, healthcare, and education. They stressed that addressing these basic needs is crucial for maintaining peace in the country.
The caucus also urged the administration to intensify its fight against corruption, emphasizing the need for transparent governance and accountability. Additionally, they warned against overly relying on foreign financial institutions, whose policies, they argued, are often detrimental to developing nations.
“We also call on the government to intensify the fight against corruption, with transparent governance and accountability being paramount. We also warn that the government should desist from throwing the nation to the whims of foreign financial institutions, whose policies in developing countries are often anti-people,” the statement concluded.
