The sudden increase in fuel pump prices by the Federal Government, led by the All Progressives Congress (APC), has exposed the rust in its shaky, clueless, and lopsided leadership. This has seriously frustrated Nigerians, whose common wealth is being carelessly looted and misappropriated.
This is the position of Dr. Emeka Kalu, Director General of Global Initiatives for Good Governance (GIGG), who spoke on the declining economy of the country, worsened by the ongoing hike in fuel pump prices.
Describing the APC’s takeover of power since 2015 as regrettable, Kalu lamented how the country’s economy has suffered a severe setback, if not a total collapse.
Kalu recalled how the government of General Muhammadu Buhari (Rtd), which handed over power to President Ahmed Bola Tinubu after eight years, failed to positively impact basic infrastructural development.
Rather than transforming Nigeria positively, the Buhari administration “flopped diversification and economic investment to the point that the nation’s financial economy experienced cracks and noticeable retrogression.” Today, the removal of fuel subsidies has evidently done more harm than good, as citizens struggle hopelessly to make ends meet.
Referring to World Bank reports, Kalu noted that Nigeria remains the third country in the world with a high debt profile, warning that without swift actions to rejuvenate the crumbling economic structures, the situation could become disastrous.
According to him, “Bill Gates, an American financial and investment giant, invested $2.8 billion to revolutionize Nigeria’s healthcare, while advising the government to focus on actions capable of improving the lives of its citizens. This reflects the extent to which the nation’s political economy has deteriorated, while the Presidency continues to deceive the people through the media, claiming that hardship will soon be over.”
Describing the problem with Nigeria as bad leadership, Kalu quoted from one of the works of the late Professor Chinua Achebe, revealing how this social stigma has mercilessly eroded the nation’s fabric.
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He condemned the high rate of insecurity across the nation, where innocent Nigerians are attacked, kidnapped, and killed daily, while the government is busy chasing protesters who exercise their civic and constitutional rights.
He said, “Plateau State communities are currently under siege by insurgents. A police divisional headquarters in Imo State was recently attacked, resulting in loss of lives. Serial kidnappers are capturing helpless citizens on various inter-state roads and demanding ransoms, while the government focuses on relieving public servants of their positions and appointing loyalists at the expense of the established federal character principle in Nigeria.”
“The renewed hope has turned into a state of hopelessness, hunger, despondency, and economic quagmire. If the current government of Senator Ahmed Bola Tinubu does not quickly address the monumental inflation, hunger, and rising cost of living, the situation will only worsen.”
