PDP Governors Urge President Tinubu to Reassess Economic Policies Amid Rising Hardship

Governors from Nigeria’s opposition party, the Peoples Democratic Party (PDP), have called on President Bola Ahmed Tinubu to urgently reassess his economic policies, citing escalating hardship among citizens. The PDP Governors’ Forum, led by Bauchi State Governor Bala Mohammed, raised concerns over the worsening economic situation and the impact of recent government reforms on the general population.

At a high-profile meeting in Jos, Plateau State, the governors issued a communiqué warning that Nigerians are “groaning under severe economic hardship”, urging the federal government to reconsider its fiscal and macroeconomic strategies.

Mounting Economic Challenges

Since taking office in May 2023, President Tinubu’s administration has implemented aggressive economic reforms, including the removal of fuel subsidies and the floating of the naira. While these policies were initially praised as necessary for long-term economic stability, their immediate impact has been severe:

• Fuel prices have surged from approximately N200 to nearly N1,000 per liter, placing a heavy burden on transportation and logistics costs.
• The naira’s devaluation has triggered record-high inflation, significantly increasing the prices of essential goods and services.
• Food prices have skyrocketed, with staple commodities becoming unaffordable for many households.
• Businesses are struggling, as the cost of production and importation continues to rise, affecting job security and economic growth.

A report from the National Bureau of Statistics (NBS) revealed that inflation hit 28.92% in December 2023, the highest in over two decades, with food inflation exceeding 33%. These figures underscore the severity of the crisis, as more Nigerians are pushed into poverty.

PDP Governors Express Concern

Governor Bala Mohammed, speaking on behalf of the PDP Governors’ Forum, emphasized that while the economic reforms were meant to stabilize the economy, they have instead worsened living conditions for Nigerians.

“The macroeconomic policies driving inflation must be reviewed. People are hungry, and Nigerians are not benefiting from these changes. The government must take immediate action to alleviate suffering.”

The governor also expressed concern about the rising discontent among citizens, warning that the public frustration is reaching dangerous levels. Some PDP governors have reportedly increased security measures in their states due to growing unrest and dissatisfaction with the federal government’s policies.

Call for Policy Reassessment

In their official statement, the PDP governors called on President Tinubu to “re-examine macroeconomic and fiscal policies” to provide relief for struggling Nigerians. They emphasized that current policies are not yielding the expected results and urged the government to introduce measures that prioritize the welfare of the people.

The governors pledged to continue exploring state-level initiatives to cushion the effects of economic hardship but insisted that the federal government must take the lead in implementing meaningful reforms.

Public Outcry and Protests

The worsening economic situation has sparked nationwide protests, with citizens taking to the streets to express their frustration. Inspired by similar demonstrations in Kenya, Nigerian youths organized mass protests in August 2024, demanding solutions to the high cost of living and rising unemployment.

Despite efforts by the government to suppress dissent, the protests reflect a growing dissatisfaction with the administration’s economic policies. Many Nigerians argue that while reforms were necessary, the government failed to implement adequate social safety nets to cushion the impact on the most vulnerable populations.

The Debate Over Tinubu’s Economic Reforms

The Tinubu administration has defended its economic policies, arguing that they are crucial for long-term economic stability. Officials have claimed that:

• Fuel subsidy removal was necessary to free up funds for infrastructure and development projects.
• Floating the naira will eventually stabilize the exchange rate and attract foreign investment.
• Tax reforms and fiscal adjustments will strengthen government revenue and reduce dependence on borrowing.

However, critics, including economic analysts and opposition leaders, argue that these measures were implemented too abruptly, without proper planning or support systems. The high inflation, rising debt burden, and deteriorating standard of living have led to increasing calls for the government to adjust its approach.

As economic hardship worsens, the pressure on President Tinubu to reassess his economic policies is mounting. The PDP governors’ warning highlights the urgent need for a policy shift to address the growing frustration among Nigerians.

The administration now faces a critical test: balancing economic reforms with immediate relief measures to protect vulnerable citizens. Whether the government will respond to these calls remains to be seen, but one thing is clear—Nigerians are demanding change.