Phrank Shaibu, an aide to former Vice President Atiku Abubakar, has unleashed scathing criticism on President Bola Tinubu’s economic strategies, likening them to a quack doctor’s futile attempts to cure a cancer patient.
In a searing statement, Shaibu accused Tinubu’s policies of exacerbating hunger, poverty, and hardship, portraying them as deliberate actions to impoverish Nigerians.
Shaibu highlighted Tinubu’s alleged penchant for blaming his predecessor and the opposition for the nation’s woes, while neglecting to address the root causes of economic distress.
He further criticized Tinubu’s administration for what he described as the appointment of incompetent officials based on political loyalty rather than merit, citing a lack of understanding of Nigeria’s diverse economy.
The statement underscored a litany of economic woes, including skyrocketing food prices, widespread business closures, and a depreciation of the Naira, painting a bleak picture of the nation’s economic landscape under Tinubu’s leadership.
“The fallout of the shambolic policies of President Bola Tinubu’s led All Progressives Congress (APC) administration is killing Nigerians even as there are no efforts to stem the tide.
“The unprecedented hunger, poverty, and hardship in Nigeria were part of Tinubu’s ultimate plan to decimate Nigerians and pauperise them until they have no shred of dignity left.
“Tinubu is like a quack doctor trying to treat a cancerous patient. But the quack doctor is likely to kill the patient even faster than the cancer itself. This is the dire situation that Nigerians have found themselves in.
“Rather than get to work, he continues to blame his predecessor, President Muhammadu Buhari, for handing him an empty treasury and a weak economy and the opposition for instigating mass protests. He talks as if Buhari was not a member of their diseased All Progressives Congress. He also forgets that his own kabukabu policies and its fallouts are what is instigating the mass protests across the country.
“On Tinubu’s watch, poverty has reached an all-time high, with food inflation at 33%. He noted that the resulting effect would be a drop in unemployment, a rise in suicide levels, an increase in crime as well as a spike in the number of out-of-school children.
“Operators in the private sector of the economy continue to complain about how the Tinubu administration has led them into uncertain times, resulting in about 10 million small and micro businesses being closed.
“The free fall in the exchange rate and haphazard nature of government policies under Tinubu’s administration have made a rubbish of projections made by businesses during the last quarter of 2023.
“In the past, garri and beans were considered food for the poor but even today, the poor cannot afford to buy beans which now costs N1,500 per mudu and with no prospects of a stop in the rising prices. SMA baby formula now costs N8,000 from N2,200.
“Just over a year ago, a 50kg bag of rice was N47,000 but today it is N77,000. Beans used to be N36,000, but now it is N42,000. Bread was N700 for a loaf, but now it sells for N1,200. A single egg now costs N150. Imagine how much a crate costs? Even the agbado corn that Tinubu used in campaigning is also expected to go up by over 25%, according to AFEX.
“The tragedy now is that a vast majority of Nigerians whose means can’t afford decent meals, unfortunately contend with staples meant for animals.
“A recent BBC investigative report says that many people consume rejected rice gains by millers. The report specifically says that those rejected grains are purchased by fish farmers to feed their fisheries.
“In a similar context, a random visit to the Garki Market in Abuja will behold a large number of people queuing for maize shafts which they now turn into solid food. Normally also, these shafts are sold to livestock farmers, but now Nigerians resort to these forms of staple as human food.
“Just last month, a female banker committed suicide inside the banking hall, claiming that the economic hardship is unbearable. Indeed, as it is stated in Proverbs 29 verse 2: When the righteous rule, the people rejoice. But when the wicked rule, the people suffer. That is Nigeria’s current quagmire where life is brutish, short and nasty and kidnappers have taken over the land,” the statement partly reads.
Shaibu also lambasted Tinubu’s lavish spending on government projects and appointments, juxtaposed with austerity measures imposed on ordinary Nigerians.
The scathing critique concluded with a damning assessment of Tinubu’s legacy, portraying him as a failed magician unable to replicate his alleged successes in Lagos on a national scale.
“Tinubu rode to power on the lie that he transformed Lagos economy. The truth is that Lagos had been the country’s commercial capital even before he was born. All banks, telecommunications firms and oil companies are headquartered in Lagos. About 70% of Lagos revenue comes from income tax paid by staff of these companies.
“All Tinubu did was to enforce tax payment which the military government had neglected. This was the financial miracle he claimed to have performed. Now he has been brought to the national level to repeat the so-called miracle, but the failed magician cannot rework his artistry,” he added.
