Afenifere, the pan-Nigerian Social Welfarists, is sounding the alarm on Nigeria’s economic situation, urging a recalibration of government policies. In a statement by its Publicity Secretary, Prince Justice Faloye, the group highlights soaring inflation and deepening poverty as pressing concerns for citizens.
Warning of prolonged economic turmoil if the status quo persists, Afenifere calls upon President Bola Tinubu’s administration to heed the populace’s pleas and address their hardships.
With a critical eye on the first year of Tinubu’s tenure, Afenifere advocates for a nuanced approach to the economy to stem the tide of inflation, unemployment, and poverty.
The group criticizes the government’s reliance on flawed economic doctrines, citing the adverse effects of subsidy removals and tax hikes. It condemns the disproportionate focus on tightening monetary policy, exemplified by steep interest rate hikes, which it argues are counterproductive.
Afenifere also scrutinizes recent policy moves, such as the removal of petrol subsidies and the forex market unification, attributing the naira’s depreciation to these decisions.
Highlighting the detrimental impact on the productive sectors, Afenifere underscores the need for policies that foster economic growth rather than hindering it.
