Sowore questions Tinubu’s reform, says Nigerian govt mismanaged economy

Activist, Omoyele Sowore, has questioned the effectiveness of the federal government’s fuel subsidy removal, arguing that the policy has deepened economic hardship rather than alleviated the sufferings of Nigerians.

He stated that the reform has not translated into improved living conditions, insisting that ordinary citizens have borne the brunt of the policy shift.

Sowore spoke on Thursday, during an interview on Frontline, a current affairs programme on Eagle 102.5 FM, Ilese Ijebu, and monitored by our correspondent in Abeokuta.

He criticised the current administration’s economic direction, maintaining that the value of the naira has collapsed and is an evidence of economic mismanagement.

According to him, inflation, borrowing, and wage stagnation have worsened under the policy framework introduced by the administration.

His words, “Well, the economic situation in the country is transparent to all of you. It’s not something that you need an expert analyst to tell you. Like the government from day one of its inception mismanaged the Nigerian economy. And how do you know?

“The strength of your currency is one of the ways you judge your economic relevance and your purchasing power. It went from 400 Naira that Tinubu met in Naira, to a dollar. And now we are now at 1,400 or 450, as the case may be, or 1,500.”

Sowore further argued that the removal of subsidy was accompanied by promises that have not been fulfilled, stressing that citizens have not seen any improvement in infrastructure or social services.

“He removed what he called subsidy and lied to all of you that the removal of subsidy will lead to more prosperity, that he will invest the money in building roads and securing your neighborhoods and securing your schools, and he will somehow give you more money in your pocket. Ask yourself, has that happened? So all of you are vanquished economically.

“We have engaged, or he has engaged in borrowing money that has never been done before. They are borrowing money to pay salaries. They are borrowing money to do everything. The Nigerian economy can’t even fulfill its obligations to its lawful budget. So you have several ministries that get zero capital revenues for their ministries. So what economy are you talking about?”

“There is no economy here anymore. People are just living from hand to mouth. A lot of people can’t even lift their hand to mouth anymore. That’s where we are. So there’s nothing to evaluate economically about this Tinubu regime.

“Nigeria has gone bankrupt since removal of subsidy. How do you know you’re bankrupt? Because you can’t even fulfill basic obligations” he added.

He argued that the removal has benefitted only a small elite group while worsening inflation and insecurity.

“I ask again, who has benefited from the removal of subsidy? If you know anybody, please point them to me. Apart from the 1% people who dominate the political and economic stage.”

Sowore insisted that economic policy must be judged by its impact on ordinary citizens rather than macroeconomic indicators alone, arguing that Nigeria’s current direction reflects elite protection rather than public welfare.

Sowore questions Tinubu’s reform, says Nigerian govt mismanaged economy