Gbadebo Rhodes-Vivour, the Labour Party’s governorship candidate in the 2023 general elections, has criticized the economic reforms introduced by President Bola Tinubu’s administration, claiming they primarily benefit a select few.
Since assuming office in May 2023, Tinubu’s government has implemented measures such as the removal of the fuel subsidy and the floating of the naira. While the President has pledged to sustain these policies, Rhodes-Vivour argues that they have led to widespread suffering among Nigerians.
“People are enduring unprecedented hardship. Over 70 percent of their income is now spent on transportation and food,” he said during an interview on Channels Television on Thursday.
“They haven’t even begun to consider how they can afford housing.
“There’s a culture of wastefulness and extravagance within the government that starkly contrasts with the harsh economic realities being imposed on the people.
“The only beneficiaries of these reforms seem to be bankers, government officials, and the President’s close associates.
“How many Nigerians can genuinely say they are benefiting from any of these reforms?” he questioned.
Atlantic Reporters reports that the removal of the fuel subsidy and the floating of the naira have significantly worsened inflation, further straining the economy.