Former Labour Party Presidential Candidate, Peter Obi, has challenged President Bola Tinubu over his claim that the economy has stabilised.
When he received Oba Ghandi Afolabi Oladunni Olaoye, Orumogege III, the Soun of Ogbomosoland, in audience with some other royal fathers, Tinubu had declared that his administration’s bold economic reforms were achieving favourable results “as the economy has now stabilised and attracting interest from around the world”.
“Years of neglect and self-deception, fake records, smuggling, and all of that denied Nigeria the necessary revenue for progress and development.”
“Then we were confronted again with arbitrage trading of currency, an illusion of selling papers, corruption all over the place, and the integrity of the country and its economy being extremely and adversely challenged. We had to take those actions. With your prayers, patience, perseverance and great understanding, I’m glad to tell you today that the economy is stabilised. The bleeding has stopped. Haemorrhage is gone; the patient is alive,” he had said.
Reacting to the President’s comment, Obi in a statement said if indeed the claim is true, it should reflect on the lives of Nigerians.
“The President has announced that our nation’s revenue target for the year has now been achieved by August, which could mean a stabilising economy.”
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“Congratulations Mr. President. But Mr. President, if indeed the economy stabilises as you declared, then Nigerians must feel it in their daily lives. Borrowings must stop now. Huge Contractors’ bills, which are still owed should be paid, and critical underfunded projects must now be funded.
“Our educational facilities and hospitals are still in terrible condition. True economic stability is not in figures announced at press conferences, but in classrooms where children learn, in well-equipped labs and access to learning tools, in hospitals, where citizens can receive quality care, equipped with adequate facilities.
“For the next four months, every value of our excess revenue should be deliberately channelled into the critical areas of development: health, education, and pulling people out of poverty. This must be done transparently, with verifiable and measurable outcomes. Anything less will mean that revenue growth has not translated into national growth. Nigerians deserve to see the impacts of this touted revenue growth.”
