Following Governor Sheriff Oborevwori of Delta State’s criticism of President Bola Tinubu’s economic policies, the Federal Government has declared that the reforms have made more resources available to states.
While the New Nigeria Peoples Party (NNPP) and Peoples Democratic Party (PDP) agreed with Governor Oborevwori that Nigerians are suffering heavily as a result of Tinubu’s economic reforms, the Minister of Information and National Orientation, Mohammed Idris, dissented, saying, ‘’Nigerians will feel the benefits in 2025.’’
According to Punch on Tuesday, the minister said, “2025 is a year that President Tinubu’s reforms will be consolidated for the benefit of all Nigerians.
“Mr President has embarked on an ambitious reform agenda that is already freeing more resources to the sub-nationals, not just the Federal Government.”
Arguing that the Delta governor’s comments are a smokescreen to avoid accounting for the increased allocation Delta, an oil-producing state has enjoyed under Tinubu, Idris said, “The Delta governor’s comments about the economic policies of the Tinubu administration are an attempt to distract from the challenge thrown to him to account for the resources of Delta State which have increased vastly in the last 18 months.
“A governor who has received close to a trillion naira since coming to office should focus on accounting for it, not casting aspersions on a Federal Government that is doing everything to empower the states.”
Oborevwori had accused the Federal Government of unleashing unprecedented hunger, poverty and mass unemployment on Nigerians, turning Nigeria into the world’s poverty capital.
The governor said the probable gains of Tinubu’s policies on petroleum subsidy removal and floating of the naira had been eclipsed by naira devaluation and soaring inflation.
In a statement by his Executive Assistant on New Media, Mr Felix Ofou, the Delta governor said it was time Tinubu embraced policies that would stem poverty and suffering.
His comments came on the backdrop of an assertion by the former Deputy President of the Senate, Senator Ovie Omo-Agege, that the President’s economic policies “increased federal allocation to state and local governments, rising economic growth rates, declining imports, higher exports and higher incomes for farmers.”
Tinubu’s unification aimed to create a more transparent and equitable foreign exchange regime.
However, it also led to an immediate naira depreciation, severely eroding purchasing power and raising import duties.
This raised the prices of essentials like medicines, electronics and food products, further worsening inflation.
Also, about 104 million Nigerians sank into poverty by December 2023, the World Bank estimated.
Per Punch on Tuesday, the PDP Deputy National Youth Leader, Timothy Osadolor, and the NNPP National Publicity Secretary, Ladipo Johnson, said the policies should be reviewed.
Osadolor said the country was suffering due to the policies of the current administration.
“So, unlike those in Aso Rock who are shielded from the reality of today, the Delta State governor, by virtue of being a community person, feels the pulse of his people firsthand, aside from being governor.
“The people cry to him, and he feels their pain firsthand. We don’t have to be a governor or a community person to know that there’s hunger in the land. Even the cattle and birds in the country show signs of despair.
“This speaks volumes about what has gone wrong with the country. The country is sick from the policies of the current administration, and it needs healing and deliverance from the economic managers of this government,” he said.
Osadolor argued that the governor simply echoed “what others have been saying.”
He added, “But I want to salute his courage and the risk he faces, even though he has immunity for now, of being retorted or called names.
“He has stepped forward to be counted among those who genuinely mean well for Nigerians and who truly feel the pain and suffering of the people.
“I want all other men of goodwill and character to stand up and speak up and be counted, and say, enough is enough.”
The National Publicity Secretary of the NNPP said the Tinubu administration needed to review its policies before May 29, when Nigerians would finalise their assessment of the APC government.
However, Oborevwori faulted Omo-Agege’s claim saying, “the value of the increased funds amidst galloping inflation, naira devaluation, and widespread poverty.”
Upon assuming office 18 months ago, President Tinubu announced the removal of fuel subsidy and the unification of exchange rates.
Though touted as necessary reforms, these moves triggered seismic economic disruptions, infusing immense pressure into daily Nigerian life.
The fuel subsidy, which had long shielded Nigerians from global oil price volatility, was scrapped, pushing fuel prices from approximately N185 to around N1,100 per litre.
The price of commodities followed suit as fuel costs underpinned transportation, food prices and general consumer goods.
By October 2023, the national inflation rate surged to 32.7 per cent, with food inflation peaking at an alarming 37.5 per cent.
Coupled with subsidy removal was the unification of the multiple exchange rates.
For years, Nigeria operated an artificially pegged naira rate to support imports and control inflation, a policy that led to currency speculation and a thriving black market.
