The People’s Redemption Party (PRP) has condemned the economic policies of President Bola Tinubu’s government, saying they have led to a significant increase in the country’s misery index.
This is contained in a statement by Falalu Bello, OFR, the National Chairman of the People’s Redemption Party, made available to News About Nigeria.
The party claimed that the government’s decision to remove subsidies, devalue the currency, and increase interest rates has resulted in unprecedented hardship for Nigerians.
According to the PRP, the misery index, which measures the combined effects of inflation, unemployment, and poverty, has reached an all-time high under Tinubu’s watch.
The party alleged that the government’s policies have led to a sharp increase in poverty, inflation, and unemployment, with over 300 companies closing due to the harsh economic conditions.
Bello accused the government of blindly following harmful economic policies prescribed by the International Monetary Fund (IMF) and World Bank, despite their history of failure in Nigeria and other countries.
He lamented that the government’s refusal to explore alternative economic policies has worsened the suffering of Nigerians.
Bello criticised the government’s decision to increase taxes and interest rates, saying it has further exacerbated the economic hardship faced by Nigerians.
He also expressed dismay at the government’s refusal to increase workers’ pay, despite the increase in the cost of living.
The PRP chairman emphasised that economics is a science of alternatives and that the government’s one-sided policies must be revisited quickly and urgently to avoid further suffering for Nigerians.
The PRP urged the government to rethink its economic policies and prioritise the welfare of Nigerians.
The party demanded a comprehensive review of the economy, including a reduction in the cost of governance, an increase in workers’ pay, and the development of people-oriented agricultural and manufacturing policies.
The PRP’s condemnation of the government’s economic policies comes as Nigerians continue to struggle with harsh economic conditions.
Many Nigerians have expressed frustration with the government’s handling of the economy, with some calling for a change in leadership.
The PRP’s call for alternative economic policies has resonated with many Nigerians, who are eager for a change in the country’s economic fortunes.
