Politics

Tinubu, Remi, and Akpabio: A Mockery of Nigerians’ Struggles

Published by Tope Fakinlede on October 12th, 2024.

Tinubu, Remi, and Akpabio: A Mockery of Nigerians’ Struggles

The relentless rise in petrol prices and the subsequent spike in living costs have plunged many Nigerians into a severe decline in their quality of life. This troubling reality is worsened by the insensitive comments from those in power, who seem to mock the very suffering they have caused.

President Bola Ahmed Tinubu, infamously dubbed “T-Pain,” recently remarked from London that Nigerians would one day recognize the value of his “reforms.” Such statements are not only tone-deaf but also deceitful.

These reforms are devastating, destroying the livelihoods of millions and even contributing to fatalities. What possible advantage can the deceased gain from economic policies that led to their demise?

Moreover, this assertion is misleading. Historical evidence from Nigeria’s Structural Adjustment Programs (SAP) and similar neoliberal reforms in other countries shows that these policies tend to dismantle the middle class and deepen poverty among the lower classes, all while satisfying market demands that primarily benefit the wealthy.

Typically, neoliberal measures—such as removing subsidies, deregulating industries, cutting social services, and imposing fiscal austerity—worsen economic inequality and obstruct sustainable growth in developing nations. They favor large corporations and the affluent, leading to an unequal distribution of wealth and widening the gap between rich and poor.

The future benefits Tinubu envisions, which he expects Nigerians to endure mass hardship for, include opening local markets to international competition. While this may please foreign investors, it risks overwhelming domestic businesses that lack the necessary resources to compete, all in the name of attracting investment for infrastructure.

Historically, the elite have derided the emergence of a middle class, referring to those who could afford cars as “Obasanjo drivers,” a term used during Olusegun Obasanjo’s presidency when minimum wage increases allowed some to own vehicles. It wasn’t Obasanjo who created this middle class; rather, democracy naturally fosters job creation and opportunity.

Now, Tinubu’s neoliberal agenda is systematically dismantling this middle class and pushing the impoverished deeper into despair, reminiscent of the harsh realities of military rule. It raises the question of how much longer this situation can persist. Yet, this outcome is not surprising; I warned of these developments long before Tinubu took office.