The National Secretary of the All Progressives Congress, Senator Ajibola Basiru, has dismissed the claims of critics of President Bola Tinubu’s economic policy, describing them as novices.
Senator Basiru spoke with Legit.ng correspondent in Ibadan, saying the critics of Nigeria’s economy need to look beyond drawing comparisons that have no basis in any economic principles.
The hope is here
Reacting to the widespread condemnation of President Bola Tinubu’s economic policy and people’s yearning for renewed hope, the APC National Secretary said the hope is already here and asked pessimists of the economic policies of the President to base their analysis on an objective assessment of Nigeria’s economy.
“The hope is already here now, people should not lie to you. How much was a bag of rice by this time last year? –Comparing the present with 2023, Senator Ajibola said, “You can’t compare like that. The economy is not (measured) that way.
“There was food inflation last year. But with the intervention in the agric sector and the maturity of the reform of this government, the food inflation is coming down. That is the reality. Go to the market and see how much they are selling food commodities.”
Nigeria’s economy would have collapsed
According to the APC secretary, Nigerian economy would have collapsed by now but for the ingenuity of President Bola Tinubu in managing the economy.
“What many people failed to know is that, if not for the economic policies of Asiwaju Bola Tinubu, Nigerians would not even be talking of inflation; we would be talking of total collapse of the Nigerian economy.
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“As at the time he took over, more than 97% of Nigerian resources were being used for debt servicing. Our foreign reserves have been totally depleted. No investors wanted to engage in the Nigerian economy, and Nigeria’s balance of trade was in deficit. These are the parameters by which to judge an economy.
Searchlights should be on the states
The APC chieftain challenged the critics of the government to challenge the state governments because more resources have been released to the state governors.
“By the President’s policy, there are enough resources at the state level for infrastructure development and to cushion the effects of the economy. So, the searchlight should not just be on Bola Tinubu, we have 36 governors, the FCT and 774 Local governments.
“There are resources at the disposal of the state governments. Come to think of it, how many governors now borrow to pay workers’ salaries, unlike before? None! You now have a guaranteed income for the Nigerian workers. The minimum wage was N35,000, but now it is N70,000, while some states like Edo and Lagos are doing more than that.
“The pensioners are also getting their entitlements. This has multiply effects on the economy.”
The critics need to be educated
Senator Basiru stressed that those who are criticising the economic policies of Bola Tinubu’s administration don’t even know, and they are grouped into three:
“There are some who are genuinely concerned or need to develop. Those ones don’t even know what the issues involved are. Some do it out of mischief, while the people in the third category are campaigning for the 2027 election.
Cumulatively, Senator Ajibola Basiru said what the president did now has paved to tackle the age-long instructional deficit in the states, and catered for overhead expenses of the state without taking loans and has free resources for the development of the state.
Tinubu approves federal university in Southern Kaduna
Earlier, Legit.ng reported that President Bola Ahmed Tinubu had approved the establishment of a federal university in Southern Kaduna in a landmark decision aimed at addressing the region’s educational and developmental needs.
The announcement was made by Vice President Kashim Shettima during a condolence visit to the family of the late Agwom Akulu of Ikulu Chiefdom, Yohanna Sidi Kukah, in Zangon Kataf, Kaduna State.