A chieftain of New Nigeria People’s Party, NNPP, Olufemi Ajadi Oguntoyinbo has claimed that the national broadcast addressed by President Bola Tinubu in view of the current national protests failed to address the problems facing the citizens.
Oguntoyinbo said this in a statement made available to DAILY POST on Tuesday.
President Tinubu had on Sunday addressed Nigerians following the outbreak of national protests across the country over hunger and scarcity of essential commodities.
However, Ogutoyibo said the President’s broadcast fell short of Nigerians’ expectations, describing the President’s attitude as insensitive to the average Nigerian’s plight.
He particularly highlighted the allocation of N21 billion for the renovation of the Vice President’s residence and another N70 billion expenditure on luxury SUVs for National Assembly members as examples of fiscal irresponsibility.
Oguntoyinbo maintained that extravagant spending is not in tandem with the prevailing economic situation in the country.
He said it is unfortunate that Nigeria’s currency can no longer compare favourably with Ghana Cedis and West Africa Coast CFAs.
Oguntoyinbo said, “The broadcast by President Bola Tinubu last Sunday on the current national protests failed to address the demands of the protesters as well as problems being encountered by Nigerians.
“The President’s broadcast fell short of Nigerians’ expectations. The allocation of N21 billion for the renovation of the Vice President’s residence and another N70 billion expenditure on luxury SUVs for National Assembly members are examples of fiscal irresponsibility.
“The extravagance spending is not in tandem with the prevailing economic situation in the country. Nigeria needs urgent improvement in its monetary policies. Sadly Nigeria has lost its status as the Giant of Africa.
“As prices soar, the Nigerian people find themselves grappling with increased financial strain. From an entrepreneurial standpoint, sustaining production becomes a formidable challenge, prompting manufacturers to pass on additional costs to consumers.
“I am very sad that Nigeria’s currency can no longer compare favourably with Ghana Cedis and West Africa Coast CFAs. That is the reality we are in now. Anybody still calling Nigeria the giant of Africa is economical with the truth. One Ghanaian Cedi now exchanges for almost N106. CFAs too have dumped Naira behind”.
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