Bauchi State Governor and Chairman of the Peoples Democratic Party (PDP) Governors’ Forum, Senator Bala Mohammed, has raised alarm over the federal government’s monetary and fiscal strategies, labeling them as ineffective and detrimental......See Full Story>>.....See Full Story>>
At the recent Nigeria Development Update event in Abuja, Governor Mohammed called for a reevaluation of these policies, emphasizing the escalating hardship faced by citizens and the resulting economic instability.
Initially, state governments backed the President’s reforms. However, the current macroeconomic policies, which have fueled inflation, require urgent reassessment. The situation has resulted in hunger and suffering among the populace, with citizens feeling increasingly alienated from these reforms,” he stated.
Highlighting the dire circumstances affecting ordinary Nigerians, the governor expressed concern about the increasing risk of public unrest. “What steps are being taken to alleviate hunger? We must find ways to support our people,” he urged.
He criticized the sharp decline in purchasing power among citizens and pointed to the overall ineffectiveness of the economic reforms. “The purchasing power has significantly decreased. My brother Cardoso, we must recognize that these policies are failing and need a thorough review. Let’s engage constructively instead of resorting to blackmail,” he added.
Governor Mohammed also voiced concerns over rising utility costs, specifically electricity tariffs, which he claimed have become prohibitive. “We are nearing a critical point. These policies are not yielding positive results and must be reevaluated,” he insisted.
Under President Bola Ahmed Tinubu, the current economic measures have led to steep increases in prices for essential goods, with petrol costs escalating from around N200 to nearly N1,200 since May 2023, further straining the financial situation of everyday Nigerians.