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Reading: Tinubu's Tenure: Frank Laments Economic Deterioration
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Nigeria

Tinubu's Tenure: Frank Laments Economic Deterioration

Timi Frank, a former Deputy National Publicity Secretary of the All Progressives Congress (APC), has expressed deep concern over the deterio...

Chima Joseph Ugo
Chima Joseph Ugo - Editor-in-chief December 18, 2023
Updated December 18, 2023 at 11:07 AM
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Tinubu's Tenure: Frank Laments Economic Deterioration
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Tinubu's Tenure: Frank Laments Economic Deterioration

Timi Frank, a former Deputy National Publicity Secretary of the All Progressives Congress (APC), has expressed deep concern over the deteriorating socio-economic conditions in Nigeria under the administration of President Bola Tinubu.

In a statement released on Monday, Frank lamented that Nigerians have endured unprecedented levels of economic hardship, distress, neglect, and hunger during the first six months of Tinubu's tenure, more so than at any other time in the nation's history.

Frank pointed out that Tinubu's much-vaunted investment drive has yet to bear fruit, and that existing investors in the country, such as Proctor and Gamble, Shoprite, and Jumia Foods, are exiting in large numbers.

Frank stated, “This is going to be the first Christmas to be celebrated by Nigerians under Tinubu’s administration but it’s going to be the worst and a nightmare for Nigerians because they cannot even afford foodstuffs and drinks to celebrate the Yuletide.

“Naira scarcity is biting harder. Nigerians now buy Naira before they can use Naira. They cannot afford a bag of rice under his government because the cost is way above the N30,000 minimum wage.

“Salaries are not being paid. Now the new minimum wage. Wage award not paid. No cash transfer to vulnerable Nigerians after taking a World Bank facility to that effect.”

He further highlighted that any savings Nigerians may have had have been depleted due to inflation, which currently stands at over 28 per cent, and the high cost of petroleum products following the sudden removal of fuel subsidies in May.

Frank also alleged that key sectors of the economy are being managed by Tinubu's associates, leading to a claim that the country is not functioning effectively because all sectors under his administration have been intentionally compromised and corrupted.

Tags: Nigeria

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