Tinubu’s Men Pushing Economy Into Deeper Crisis, His Reforms Lack Human Face

Former Vice President Atiku Abubakar has accused the men working with President Bola Tinubu of pushing the economy into deeper crisis even as he said reforms being introduced by the administration lacked human face.

The presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election stated this in a statement criticising the recent hike in electricity tariff, saying it will impose additional hardship on already suffering Nigerians.

“The President’s men are pushing the economy into a deeper crisis. His reforms are without a human face,” Atiku said in the statement.

The former PDP presidential flagbearer also emphasized that the increment on electricity tariff will have negative impact on the manufacturing industry.

He therefore advocated the need for the government to understand the root cause of the inefficiencies in the power sector before unleashing another dose of reforms, insisting that it was time to revisit the privatisation exercise that produced the Distribution Companies (DISCOs).

Atiku also accused the government of adding another reforms without adequate notice and without sufficient post-reform plan to mitigate the associated pain on the people.

He said the upward review in electricity tariff comes at a time when Nigerians were going through excruciating difficulties occasioned by the withdrawal of subsidy on PMS and floating of the Naira.

While noting that the government has not successfully dealt with the pains associated with the implementation of those measures, Atiku said the hike in electricity tariff will create more difficulties for the citizens as inflationary pressures are elevated.

“Our manufacturing sector will similarly be impacted negatively. Not only are they paying higher interest rates on their bank loans but also paying more for diesel, paying higher wages as a result of the new minimum wage,” he noted.

He then charged the president to ensure that his reforms are introduced in sequence with measures in place to mitigate associated pains while holding the Nigerian Electricity Regulatory Commission (NERC) responsible for enhanced delivery.

“Tinubu must (a) ensure that these reforms are sequenced, (b) implement measures to mitigate the pain, and (c) hold the NERC responsible for ensuring improved service delivery,” Atiku said.