Nigerian economy worse under Tinubu – Former APC Chieftain, Timi Frank, says

Timi Frank, a former Deputy National Publicity Secretary of the All Progressives Congress (APC), has lamented the state of the economy under President Bola Tinubu.

Frank in a statement issued Monday, Dec. 18, said Nigerians have faced the worst forms of economic hardships and hunger in the last six months of Tinubu’s administration than any other time in the history of the nation.

He added that while the much talked about investment drive by Tinubu has not materialized, the few existing investors in the country like Proctor and Gamble, Shoprite and Jumia Foods, etc, are leaving in droves.

Frank said: “This is going to be the first Christmas to be celebrated by Nigerians under Tinubu’s administration but it’s going to be the worst and a nightmare for Nigerians because they cannot even afford foodstuffs and drinks to celebrate the Yuletide.

“Naira scarcity is biting harder. Nigerians now buy Naira before they can use Naira. They cannot afford a bag of rice under his government because the cost is way above the N30,000 minimum wage.

“Salaries are not being paid. Now the new minimum wage. Wage award not paid. No cash transfer to vulnerable Nigerians after taking a World Bank facility to that effect.

“Whatever they have saved has been eroded by inflationary pressures which now stands at over 28 percent and the high cost of petroleum products following abrupt removal of fuel subsidy by Tinubu in May. World bank also just confirmed that 99.9% of Vilnetabke Nigerians yet to receive FG cash transfer.”

He continued: “How can new investors come to a country where the rule of law is not working?

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“They cannot come because they have lost confidence in this administration over legitimacy issues both locally and internationally.

“His bad policies and the thriving corruption in this administration are scaring away investors.

“The only thing the government has achieved in the last six months is the looting of the country and paying lip service to the fight against corruption.

“So which right thinking investor will come to a country where the judicial system is corrupt?”

Timi Frank said critical sectors of the economy are headed by Tinubu’s men and the country is not working because all sectors under his administration have been deliberately compromised and corrupted.

He said: “As a result of a highly compromised judicial system under Tinubu, investors do not have confidence of getting justice if any agreements they enter into is breached or disputed.

“Also, investors have lost confidence in the National Assembly, who are saddled with making laws especially to aid the ease of doing business among others, but practically, it is known to be one of the most corrupt arms of the present government.”

He said while Tinubu christened the 2024 Appropriation Bill as “Budget of Renewed Hope”, the reality confronting Nigerians shows that it is a “budget of renewed hopelessness,” saying this is because of the humongous fraudulent insertions into the fiscal document.

He added: “So right now, the future of Nigeria lies in the hands of Nigerians. Like every other nation, when a government has failed, the only option is for the people to protest and call for a restoration of sanity.

“Therefore, the only thing that can bring back sanity is for Nigerians to wake up and join the upcoming peaceful protests in January which we are planning and mobilizing Nigerians for to rescue the country.

“If they want a better Nigeria, then they must wake up and fight through peaceful protests.

“Nigerians must take their destiny in their hands by joining the peaceful protest in January to support the diaspora protest locally and internationally.”