BREAKING: FG, opposition clash over Tinubu’s economic reforms

•PDP, LP, NNPP link President’s reforms to worsening hardship, APC, govt defend policies

The Federal Government and opposition parties clashed on Tuesday following the criticism of the economic policies of the Bola Tinubu administration by the Delta State Governor, Sheriff Oborevwori.

The Peoples Democratic Party and the New Nigeria Peoples Party agreed with the governor that Nigerians are being crushed under the weight of Tinubu’s economic reforms but the Minister of Information and National Orientation, Mohammed Idris, argued that the reforms had made more resources available to states.

Idris further assured that ‘’Nigerians will feel the benefits in 2025.’’

Responding to questions from one of our correspondents, the minister stated, “2025 is a year that President Tinubu’s reforms will be consolidated for the benefit of all Nigerians

“Mr President has embarked on an ambitious reform agenda that is already freeing more resources to the subnationals, not just the Federal Government.”

Idris argued that Governor Oborevwori’s comments are a smokescreen to avoid accounting for the increased allocation Delta, an oil-producing state, has enjoyed under Tinubu.

“The Delta governor’s comments about the economic policies of the Tinubu administration are an attempt to distract from the challenge thrown to him to account for the resources of Delta State which have increased vastly in the last 18 months.

“A governor who has received close to a trillion naira since coming to office should focus on accounting for it, not casting aspersions on a Federal Government that is doing everything to empower the states,” the minister counselled.

Oborevwori had accused the Federal Government of unleashing unprecedented hunger, poverty and mass unemployment on Nigerians, turning Nigeria into the world’s poverty capital.

The governor said the probable gains of Tinubu’s policies on petroleum subsidy removal and floating of the naira had been eclipsed by naira devaluation and soaring inflation.

In a statement by his Executive Assistant on New Media, Mr Felix Ofou, the Delta governor said it was time Tinubu embraced policies that would stem poverty and suffering.

His comments came on the backdrop of an assertion by the former Deputy President of the Senate, Senator Ovie Omo-Agege, that the President’s economic policies “increased federal allocation to state and local governments, rising economic growth rates, declining imports, higher exports and higher incomes for farmers.”

However, Oborevwori faulted Omo-Agege’s claim saying, “the value of the increased funds amidst galloping inflation, naira devaluation, and widespread poverty.”

Upon assuming office 18 months ago, President Tinubu announced the removal of fuel subsidy and the unification of exchange rates.

Though touted as necessary reforms, these moves triggered seismic economic disruptions, infusing immense pressure into daily Nigerian life.

The fuel subsidy, which had long shielded Nigerians from global oil price volatility, was scrapped, pushing fuel prices from approximately N185 to around N1,100 per litre.

The price of commodities followed suit as fuel costs underpinned transportation, food prices and general consumer goods.

By October 2023, the national inflation rate surged to 32.7 per cent, with food inflation peaking at an alarming 37.5 per cent.

Coupled with subsidy removal was the unification of the multiple exchange rates.

For years, Nigeria operated an artificially pegged naira rate to support imports and control inflation, a policy that led to currency speculation and a thriving black market.

Tinubu’s unification aimed to create a more transparent and equitable foreign exchange regime.

However, it also led to an immediate naira depreciation, severely eroding purchasing power and raising import duties.

This raised the prices of essentials like medicines, electronics and food products, further worsening inflation.

Also, about 104 million Nigerians sank into poverty by December 2023, the World Bank estimated.

In an exclusive interview with The PUNCH on Tuesday, the PDP Deputy National Youth Leader, Timothy Osadolor, and the NNPP National Publicity Secretary, Ladipo Johnson, said the policies should be reviewed.

Osadolor said the country was suffering due to the policies of the current administration.

“So, unlike those in Aso Rock who are shielded from the reality of today, the Delta State governor, by virtue of being a community person, feels the pulse of his people firsthand, aside from being governor.

“The people cry to him, and he feels their pain firsthand. We don’t have to be a Governor or a community person to know that there’s hunger in the land. Even the cattle and birds in the country show signs of despair.

“This speaks volumes about what has gone wrong with the country. The country is sick from the policies of the current administration, and it needs healing and deliverance from the economic managers of this government,” he said.

Osadolor argued that the governor simply echoed “what others have been saying.”

He added, “But I want to salute his courage and the risk he faces, even though he has immunity for now, of being retorted or called names.

“He has stepped forward to be counted among those who genuinely mean well for Nigerians and who truly feel the pain and suffering of the people.

“I want all other men of goodwill and character to stand up and speak up and be counted, and say, enough is enough.”

The National Publicity Secretary of the NNPP said the Tinubu administration needed to review its policies before May 29, when Nigerians would finalise their assessment of the APC government.

Johnson stated “Our position has been clear: it doesn’t seem that the policies are working, and people are suffering.

“We have already stated that they should press the reset button and try to see if they can turn things around.

They shouldn’t remain obstinate and continue insisting that it will work.”

Continuing, he said, “All we can do now is wait, but the first test will be on May 29th next year, which will be the mid-term.

“At that point, we can assess the mid-term report card and see where we are and where we seem to be heading.

“By that stage, they will have no excuses. After the first test last year, they said the year was too short, but mid-term is the usual time for evaluation.”

Also speaking with The PUNCH, the National Youth Leader of the Labour Party, Kennedy Ahanotu, said despite having divergent philosophies from Oborevwori, his argument was valid.

Ahanotu said, “Truly, most people are saying that there is a need for Mr President to review his economic policy, and it’s in order. This is because when you want to test run something and you see that people are reacting to it.

“Even if you go to hospital to take an injection, if they start giving you an injection and you are reacting to it, they will remove it and start putting another. So, economic policy is something that is being test run daily.”

He continued, “When you see that it’s too harsh on people, you withdraw and seek other ways to make it work on people without having so much harsh effect.  It’s not about what the Delta governor said. I think it’s the position of the majority of Nigerians.

“Some of the economic policies of Mr President should truly be reviewed to align with the economic realities in the country.”

However, the All Progressives Congress disagreed.

The APC argued that it is too early for opposition leaders to play politics with reforms that could salvage the economy and reposition it better for the future.

In a phone interview with one of our correspondents, the National Publicity Director of the APC, Bala Ibrahim, emphasised that the ruling party has an economic and agricultural policy, which Tinubu’s government is implementing accordingly.

He said, “In these reforms or policies, the government of the Federation has introduced for the first time a new Ministry for Livestock Development.

“This is something that has not been done before and the intention is to pay attention to the agricultural sector, in particular, the area of animal and food security.

“The Delta governor is speaking out of tune. Maybe the opposition politics has blinded him by the fact that there is supposed to be a time within which certain things will mature, and then we see the effect.”

He added, “People are not getting impoverished. They are being stimulated and encouraged to go to the farm.

“They are there with the intention of producing more so that there will be food on the table. Very soon, we will start seeing the results.”

Meanwhile, Governor Oborevwori has distanced himself from comments made by his Assistant on Media, Felix Ofou.

Oborevwori, through his Chief Press Secretary, Festus Ahon, said the views expressed by Ofou “were entirely personal and did not reflect the position of the Governor or the Delta State Government.”

Ahon said, “The comments attributed to Mr Felix Ofou are his personal views and do not represent the Governor or the Delta State Government.

“Governor Sheriff Oborevwori enjoys a harmonious working relationship with President Bola Ahmed Tinubu and has never made any such statements regarding the President’s policies.

“It is, therefore, imperative to state categorically that, as Chief Press Secretary and official spokesman of the Governor of Delta State, Governor Sheriff Oborevwori did not, and has never, expressed such views on Mr President’s economic policies.

“The general public is, therefore, advised to jettison such misleading reports as they do not reflect the views of the Governor, who is working very hard to provide good governance for Deltans and other residents of the state despite the present economic challenges faced by the citizens.”

Speaking further, Ahon said the Governor had constantly urged Delta residents and Nigerians to continue to support President Bola Ahmed Tinubu.

The CPS said this was the view Oborevwori expressed at the Urhobo Progress Union on Saturday, when the governor stated, “I want to appeal to Urhobo nation today, I am saying it here, I am an Urhobo man and I’m Governor of Delta State.

“But I will tell you today whether you like it or not, President Bola Ahmed Tinubu is supporting this administration. God has made him the President as God has made me the Governor of Delta State.

“So, as you are supporting me, support him because if he fails, I will fail, but by the grace of God, he will not fail and I will not fail, too.

“Mr President has appointed our sons and daughters into various positions. He did not appoint people from outside the State. God has given him victory and God has given me victory; you people should support us to succeed.”