Senator Criticizes Tinubu’s Economic Reforms Amidst Soaring Inflation
As Nigeria faces one of its worst economic crises in decades, Senator Neda Imasuen of the Labour Party has voiced concerns over the impact of President Bola Tinubu’s economic reforms on the country’s middle class. Imasuen, who represents Edo South in the National Assembly, recently expressed his views on Channels Television’s socio-political program "Inside Sources."
According to Imasuen, Nigerians are paying too high a price for the reforms implemented by the All Progressives Congress (APC) government led by Tinubu. The Senator emphasized the need for a collective approach to address the economic woes plaguing the nation, saying, "This is not the time to trade blame; it’s time to sit down and say, look, our people are suffering, how do we sort out the situation we have found ourselves?"
Imasuen’s criticism centers on the removal of petrol subsidies and the unification of foreign exchange rates, two policies that have been widely blamed for the soaring inflation and rising living costs in Nigeria. He warned that the country’s reliance on imports and the devaluation of the naira would only exacerbate the economic challenges, especially given the fluctuating dollar rates.
The Senator called for a focus on developing the country’s industries, particularly small and medium-sized enterprises (SMEs), which he believes hold the key to revitalizing the economy. Imasuen also emphasized the need for government intervention in the agricultural sector, stressing that farmers require access to funding to produce the food the country needs.
With many Nigerians struggling to survive amidst the unprecedented hardship, Imasuen pointed out that state governments also have a role to play in alleviating the suffering of the people. However, he noted that they are currently failing to do so.
The economic crisis has sparked widespread protests across Nigeria, with thousands of citizens taking to the streets to express their discontent with the government’s handling of the economy. President Tinubu, in his recent Independence Day Anniversary Broadcast, acknowledged the difficulties and apologized for the hardship caused by his reforms. He pleaded for more patience and time, assuring Nigerians that his administration is retooling its economic policies for the good of the common people.
As the debate over the effectiveness of Tinubu’s economic reforms continues, Senator Imasuen’s comments highlight the need for a more comprehensive and inclusive approach to addressing the nation’s economic woes.
