In a recent statement, Comrade Faduri Oluwadare Joseph, a former presidential aspirant under the Labour Party, has raised serious concerns about the current state of Nigeria's economy under President Tinubu's administration.
Joseph revealed that over 700,000 Nigerians have lost their jobs within the span of less than a year, a grim statistic that underscores the widespread impact of current economic policies on citizens across all ethnicities. He highlighted that these issues, while not always front and center in media reports, are a harsh reality for many Nigerians.
Joseph stressed that the weakening currency is particularly concerning, as it not only affects the daily lives of Nigerians but also acts as a significant deterrent to potential investors who are now wary of committing to the country. He painted a picture of an economy in distress, where the combination of policy missteps and a volatile security environment is driving away the very investments needed for recovery.
He said, "In less than one year that President Tinubu took over, more than 700,000 Nigerians have lost their job, irrespective of their ethnicity. Newspaper may not report this, but it’s the fact.Microsoft and some international companies that have been in Nigeria many years ago, have now left Nigeria during the President Tinubu’s administration, due to bad policies, insecurity and the instability of our Naira that has been nosediving. Of course no investor will stake his investment while the currency of the country is on a free fall everyday."
This critique from Joseph adds to the growing chorus of voices calling for urgent reforms and more stable governance to restore confidence in Nigeria's economic future. As the situation unfolds, the question remains: can the current administration turn the tide and bring back stability and growth to the nation's economy?
Stay tuned for more updates on this developing story.