The governorship candidate of the Labour Party, LP, in the 2023 general election, Gbadebo Rhodes-Vivour has said that the economic reforms of the current administration are benefitting only a selected few people.
President Bola Tinubu’s administration’s reforms since taking over office in May 2023 include the removal of fuel subsidy and the floating of the naira, the country’s currency, which the President recently vowed to sustain at all odds.
But Rhodes-Vivour sees no reason the majority of Nigerians are suffering while others feed fat.
“The people are experiencing unprecedented hardship. Today, over 70 per cent of people’s income is spent on transportation and food,” he said during an interview on Channels Television on Thursday.
“They’ve not even started to think about how they can afford accommodation.
“We have a situation where there is a culture of wastefulness, and extravagance that does not reflect the dire economic situation that the same President is pushing out that needs to be reformed.
“The only people that seem to be benefitting from these reforms are maybe the bankers, the people in government, and the President’s friends.
“How many Nigerians can say they are benefitting from any reform right now?” He queried.
Media Talk Africa reports that the removal of fuel subsidy and the floating of the Naira has pushed the inflation level to a new high.
