A founding member of the All Progressives Congress (APC), Osita Okechukwu, has stated that President Bola Tinubu’s economic reforms have failed to deliver benefits to ordinary Nigerians, particularly in microeconomic terms.
Speaking on Arise Television’s Prime Time programme on Tuesday, Okechukwu acknowledged that the reforms had recorded gains at the macroeconomic level.
However, he said key indicators affecting everyday life remained weak.He pointed to the high cost of living, reduced purchasing power, and high unemployment, despite Nigeria’s large youth population.
According to him, these challenges show that the reforms have not improved conditions for citizens.
Okechukwu explained that the floating of the naira had made it harder for small and medium-sized enterprises to import machinery.
He also noted that rising energy costs were further constraining industrial activity and private-sector growth.
“The economic reforms have done well at the macroeconomic level, but microeconomic indicators are very poor,” he said.
“When we talk about the purchasing power of the citizenry, the high cost of living and joblessness, the president’s economic reform programme has not helped.”
He added that the reforms were based on the assumption that neoliberal policies would boost the private sector, but several barriers had limited that outcome.
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com