Governor Bala Mohammed of Bauchi State has lambasted the policies of the Federal Government, arguing that these policies are directly responsible for the worsening economic situation and hardships faced by Nigerians.
In a strongly-worded statement, Mohammed criticized the government’s handling of the economy, saying that the current trajectory is unsustainable and will only lead to further suffering for the people.
At the launch of the World Bank’s Nigeria Development Update report in Abuja on Thursday, Governor Mohammed spared no words in criticizing the ineffective economic policies of the Bola Tinubu-led Federal Government. He pointed out that despite lofty promises and the introduction of various initiatives, the government has failed to deliver on its economic commitments, leaving the people to bear the brunt of its failure.
The Governor further emphasized that the meager amount of funding allocated to states by the Federal Government has severely constrained their ability to provide basic services and alleviate the numerous challenges faced by their citizens.
In his words, “We should go back to the basics. Nigerians are not enjoying the regime at this time across board, not only the federal government, including the state and local governments. Therefore, the onus rests on you, the finance and the managers of the economy.
“The purchasing power has dwindled, these policies are not working and you know that.”
At the World Bank’s Nigeria Development Update report launch, lead economist Alex Sienaert underscored the importance of comprehensive macroeconomic stabilization reforms in stimulating economic growth in the country.
Sienaert went on to emphasize the need for these reforms to be bolstered by the creation of productive job opportunities, asserting that robust employment is critical in ensuring sustainable and inclusive economic growth in Nigeria.
Also at the report launch, the World Bank’s Country Director for Nigeria, Dr. Ndiame Diop, stressed that while the necessary macroeconomic stabilization reforms may present significant difficulties in the short term, they are nonetheless vital for securing long-term stability in Nigeria.
Dr. Diop stressed the negative implications of opposing or reversing the macroeconomic stabilization reforms, emphasizing that such actions would hinder the country’s progress and impede its development.
