Toba Owojaiye reporting
Benin City, Edo state
In a compelling critique of President Bola Tinubu’s first year in office, former Vice President Atiku Abubakar has highlighted a series of missteps and inadequacies that have hindered the realization of promised reforms. With a keen eye on economic policies and their repercussions, Abubakar’s analysis sheds light on the challenges facing Nigeria’s socio-economic landscape. Truth Live News highlights the points he made.
Reflecting on Reform, Abubakar’s advice to Tinubu stressed the need for strategic introspection before embarking on reforms. “First, pause and reflect,” he urged , emphasizing the importance of a well-defined framework with clear objectives and strategies. This call for a comprehensive review of the 2024 budget within a reform framework, speaks to the necessity of aligning fiscal measures with the realities of the Nigerian economy.
In Economic Realities and Reforms, Atiku critically addressed the inadequacies of current economic policies, cautioning against the pitfalls of trial-and-error approaches. He emphasized the need for measures that prioritize the most vulnerable households and support enterprises amidst the challenges posed by subsidy withdrawals and rising commodity prices.
Speaking on Taxation and Fiscal Responsibility, A staunch advocate for fiscal prudence, Abubakar warned against further burdening the populace with new taxes or increased rates. Instead, he advocates for expenditure rationalization and efficiency in revenue utilization, stressing the importance of aligning the budget with Nigeria’s fiscal reality.
Addressing the issue of Fuel Subsidy and Security Concerns, he called for transparency regarding the fuel subsidy regime and highlights the imperative of addressing security challenges. With a focus on the adverse effects of insecurity on agricultural production and food scarcity, he called for the urgent reevaluation of the nation’s security architecture.
Assessing Tinubu’s Policies In dissecting Tinubu’s economic policies, he painted a stark picture of their impact on the populace. From exacerbating poverty and unemployment to skyrocketing inflation rates, he presented a sobering assessment of the administration’s performance, asserting that the promised prosperity remains elusive for many Nigerians.