The Nigerian Labour Congress (NLC) has accused President Bola Tinubu of inflicting pains and suffering to Nigerians.
The NLC President, Joe Ajaero, stated this on Thursday, further puncturing the Renew Hope, and accused Tinubu of merely recycling the same failed neoliberal experiments of the past.
Ajaero again dismissed Tinubu’s assertions that his reforms were working, saying the government has failed to move the nation forward which had only proved once again that ‘’you cannot cure a patient by prescribing the poison that made him sick in the first place.’’
He said, ‘’When President Bola Tinubu took office on May 29, 2023, he promised a new dawn—bold economic reforms that would rescue Nigeria from fiscal instability and set it on a path to prosperity
“But two years later, the only thing bolder than his rhetoric is the magnitude of suffering and hardship his policies have inflicted on workers and ordinary Nigerians.
“Far from renewing hope, his administration has recycled the same failed neoliberal experiments of the past, proving once again that you cannot cure a patient by prescribing the poison that made them sick in the first place.’’
Ajaero recalled that the removal of the petrol subsidy suddenly sent shockwaves through an already fragile economy, causing fuel prices to skyrocket from N187 to over N600 per litre overnight.
The labour movement countered Tinubu’s claims that the worst days are over, pointing out that his economic reforms have plunged over 150 million Nigerians into multidimensional poverty.
The All Progressives Congress (APC) has rejected the NLC’s accusation, accusing it of misrepresenting the reality.
Responding to the criticisms against the President, the APC National Vice Chairman (South-East), Dr. Ijeoma Arodiogbu, accused the NLC of lacking depth and objectivity.
“Their statement was sponsored. The NLC failed to engage with the real issues and instead chose to grandstand,” Arodiogbu said.
“It’s disappointing to see a professional body making comments that sound more like what you’d hear in a marketplace. They ought to consult economists and policy experts before making such superficial remarks,” he added.
Arodiogbu commended the President’s performance.
The president in a national broadcast to commemorate his second anniversary on Thursday, said “we are on course to building a greater, more economically stable nation,” adding that his administration was making life better for Nigerians.
Tinubu agreed that his policies have unleashed pains on Nigerians, but said he does not take the patience of citizens for granted.
“Today, I proudly affirm that our economic reforms are working. We are on course to building a greater, more economically stable nation. Under our Renewed Hope Agenda, our administration pledged to tackle economic instability, improve security nationwide, reduce corruption, reform governance, and lift our people out of poverty.’’
Tinubu did not mention in his speech how much the country has saved from fuel subsidy removal, but he did indicate that net external reserves grew from $4 billion in 2023 to over $23 billion by the end of 2024.
While the government argued the move would free up public funds for development and reduce economic distortions, the NLC noted that Nigerians have seen no visible gains, only skyrocketing costs, business closures, and growing hunger.
“Instead of reinvestment, Nigerians got inflation so vicious that families now skip meals, businesses shutter daily, and transport costs consume the little that remains of workers’ wages,” the congress said.
The second pillar of Tinubu’s reforms, the unification of Nigeria’s multiple exchange rates, sought to enhance transparency and attract foreign investment. But the NLC said the policy has had a devastating impact on local production and consumer prices.
