Former Benue State Governor and chieftain of the People’s Democratic Party, (PDP), Gabriel Suswam, has criticized the economic policies implemented by the administration of President Bola Tinubu.
Suswam submitted that President Tinubu does not have what it takes to improve the country’s fortunes.
Speaking during an interview with Channels TV, the former Benue State Governor maintained that the All Progressives Congress (APC), through the administration of former President Muhammadu Buhari, brought negative change to the country, and the Tinubu government has continued in the same trajectory.
He added that Nigeria is on a journey to the abyss, and the policies of the Tinubu government, such as fuel subsidy removal, floating of the currency, and others, are not expected to produce any positive outcome as they are simply inflicting hardship on the citizens and residents of the country.
“Well, it’s rather unfortunate right from the Buhari Government where the mantra of ‘Change’ was the singsong. Unfortunately, people didn’t ask what kind of change he was bringing into governance. Is it positive change or negative change?
“What we experienced under those eight years were what dovetailed into what we’re experiencing today because whatever foundation that was built by the PDP was completely destroyed by that (Buhari) government.
“We now began a journey to the abyss. The state of the nation, economically, is nothing to talk about, it’s unfortunate that the current (Tinubu) leadership does not have what it takes to change the economic fortunes of this country.
“All the economic policies that they’ve engaged in or they have taken clearly indicate that they can’t solve the economic problems of this country.
“I give you some example, you remove subsidy from day one, you now float your currency, increase interest rate. Now the tariff for electricity has been increased. How does an average man survive under those kinds of heavy bad economic policies? First, subsidy itself is a problem, it affects the cost of transportation, cost of production, because you’re dealing with energy, now that has been removed. So, the person who is selling foodstuff who now was transporting maybe from inside Abuja at the cost of N5,000 now has to transport that at the cost of N15,000. Where do you think the cost will end? To the consumer. So, inflation in this country is at 31 per cent. It is unheard of!
“Now, look at floating of the currency. There’s no developing economy that has floated their currency that have gotten out of it, none. Is it the Latin Americans? They have not. In the 80s and early 90s, most of the problems of Latin American countries was the fact that they took very bad economic policies such as this current government is taking — floating of the currency, removal of subsidies here and there,” Suswam submitted.
