Phrank Shaibu: Nigeria on its knees due to Tinubu’s economic policies

Phrank Shaibu, communications aide to former Vice-President Atiku Abubakar, says the economic policies of President Bola Tinubu have brought Nigeria to its knees.

In a statement on Thursday, Shaibu said it is a tragedy that majority of Nigerians can no longer afford meals.

The aide said the country has reached a point where life is “short and nasty” and kidnappers have taken over.

“His balabu economic prescriptions have gradually brought Nigeria to its knees, putting the Naira as the worst performing currency in Africa, according to Bloomberg. This is just less than one year in office,” he said.

“At a time Nigeria was facing its worst fiscal crisis, this man decided to waste the country’s resources by appointing the largest cabinet in the history of Nigeria with 48 ministers even though 36 ministers would have met the constitutional threshold.

“Many of these ministers have been seat warmers and have achieved nothing in the last six months.

“Some ministries were split into three, and three ministers were appointed to head each new unit.”

Shaibu said Tinubu’s management of the economy has been atrocious.

“Tinubu rode to power on the lie that he transformed Lagos economy,” he said.

“The truth is that Lagos had been the country’s commercial capital even before he was born.

“All banks, telecommunications firms, and oil companies are headquartered in Lagos. About 70 percent of Lagos revenue comes from income tax paid by staff of these companies.

“All Tinubu did was to enforce tax payment which the military government had neglected. This was the financial miracle he claimed to have performed.”