By Sunday Ani
The convener of the group, Activate Nigeria for Good Governance (ANGG), Ken Agala has tackled President Bola Tinubu over his claim on October 1 that “the worst is over” for Nigeria’s economy, describing the president’s optimism as akin to “celebrating the gift of crutches to a man whose legs you broke.”
Agala argued that Tinubu’s administration has deepened Nigeria’s economic crisis, citing a plummeting Naira, soaring inflation and widespread hardship. “The president’s speech was a highlight reel of statistics , ranging from the GDP growth to rising reserves and non-oil revenue, but for Nigerians, the reality is higher prices, fewer jobs and daily insecurity,” he said.
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1718806029429-0’); });
Reflecting on Nigeria’s recent past, he praised the administration of former President Goodluck Jonathan from 2010 to 2015, for fostering hope and opportunity. “Under Jonathan, the middle class grew by 4.1 million households by 2014, a 600 percent increase since 2000, according to Standard Bank. Nigerians abroad returned to invest in banking, telecoms and startups. The 2014 GDP rebasing showed growth in services and construction. Flawed as it was, ordinary Nigerians could aspire to rise,” he noted.
In contrast, Agala described Muhammadu Buhari’s tenure from 2015 to 2023 as a period that “turned dreams into nightmares.” He pointed to two recessions, forex crises and a surge in poverty, with over 133 million Nigerians in multidimensional poverty by 2023. “Unemployment and inflation ballooned, erasing purchasing power,” he added.
He reserved his harshest criticism for Tinubu, whose less-than-a-year presidency he said has outpaced Buhari’s economic damage. “The Naira collapsed to ₦1,510 per dollar by July 2024. Inflation hit 34.8 percent in May. Social disbursements are small and irregular and subsidy removal has crushed households. If Buhari was slow poison, Tinubu is a bullet train to collapse,” he stated.
Citing data from the International Monetary Fund (IMF), World Bank and National Bureau of Statistics, he highlighted Nigeria’s worsening economic indicators. “Per capita income has fallen from $3,222 in 2014 under Jonathan to $806 in 2024 under Tinubu. The Naira, once ₦165 per dollar in 2014, now stands at ₦1,510. Inflation has surged from 8.1 percent to 34.8 percent, unemployment from 7.5 percent to over 41 percent and the misery index from 15 to over 76. Nigeria’s corruption perception index, per Transparency International, has also declined from 27/100 in 2014 to 22/100 in 2024,” he stated.
He argued that Jonathan’s era offered possibility, while Buhari’s triggered currency collapse and brain drain. “Tinubu’s policies have intensified these woes, with record inflation and elite capture masquerading as reform,” he said. “Handing out data does not feed people. Healing the economy and restoring livelihoods does.”
The ANGG convener called for urgent action to address Nigeria’s economic decline, urging the government to prioritise tangible relief over optimistic rhetoric.
The post Tinubu’s promises hollow amid economic woes –Agala, ANGG convener appeared first on The Sun Nigeria.
