By Cheta Enyoghasi
Afenifere, the pan-Yoruba socio-political organization, said that President Bola Tinubu’s administration is dragging Nigeria into an economic crisis worse than the Great Depression of 1929.
The group citied the sharp decreases in the naira’s value, real salaries, and overall economic performance since 2014.
They criticized Tinubu’s response to a recent visit by Patriots led by Chief Emeka Anyaoku, who advocated for a new Constitution. The President reportedly said that he will put economic reforms above restructuring, which they find unacceptable.
The group led by Chief Ayo Adebanjo and National Publicity Secretary Prince Justice Faloye, in a statement argued that Nigeria’s president’s economic reforms have resulted in hardship and reduced living standards. They support restructuring as a foundation for economic recovery and tackle Nigeria’s diverse challenges.
“We urge the president to reconsider his approach. A comprehensive strategy that addresses both economic and political reforms simultaneously is needed, not just isolated economic measures,” the statement said.
They went on to say that Nigeria’s political system, which places a higher priority on control and economic reliance on a central authority than prosperity, is largely to blame for the country’s economic problems.
