…Faults President’s Claim On Economy’s ‘dark tunnel’ Exit
The Makinde-Daura Presidential Cmpaign Organisation (MDPCO) has accused President Bola Tinubu of misleading Nigerians with his claim that the economy has emerged from the “dark tunnel,” insisting that the country’s economic situation is worsening under his administration.
The organisation said it was unfortunate that Tinubu made the claim in Mecca, despite what it described as damning economic indicators, including over 140 million Nigerians, representing 63 per cent of the population, living in poverty.
In a statement on Monday, its Director of Strategic Communications, Richard Ihediwa, said businesses were shutting down daily, unemployment was rising, and more than 60 million Nigerians were facing acute food insecurity as a result of the administration’s economic policies.
The group also accused the Tinubu government of failing to address worsening insecurity, which it said had restricted citizens’ movement, farming and commercial activities, further undermining economic growth.
It lamented that petrol prices remained between N1,500 and N2,000 per litre despite Nigeria’s status as an oil-producing country, arguing that the high cost of fuel had worsened inflation, increased business costs and eroded citizens’ purchasing power.
The MDPCO further put Nigeria’s infrastructure deficit at $2.3 trillion, arguing that the country would require about $100bn annually over the next 30 years to bridge the gap. It also criticised the administration’s borrowing spree, citing a national debt of N166.7 trillion and questioning the absence of verifiable investments to justify the loans.
Describing Tinubu’s economic assessment as evidence that he had exhausted his ideas, the organisation said the President’s declaration in Mecca that power belonged to God, who could give it to anyone and take it away, was an answered prayer for Nigerians yearning for new leadership.
The group urged Tinubu to withdraw from the 2027 presidential race and support the Allied Peoples Movement (APM) candidate, Seyi Makinde, saying his proposed Reset Nigeria agenda offered a credible alternative anchored on economic opportunities, affordable living, security, quality education, accountable governance and national unity.