Segun Showunmi criticizes Tinubu’s economic policies, says President is confused

PDP chieftain Segun Sowunmi criticised President Bola Tinubu’s economic policies, claiming that Tinubu is confused about handling Nigeria’s economy.

 

[dropcap]A[/dropcap] chieftain of the Peoples Democratic Party (PDP), Segun Showunmi, has expressed strong disapproval of the Federal Government’s economic policies under President Bola Tinubu.

Speaking on Channels Television’s ‘Politics Today’, Showunmi described Tinubu as being confused about how to manage Nigeria’s economy.

He specifically criticized the President’s decision to end the petrol subsidy and float the naira, which have both resulted in a significant increase in the cost of living.

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Showunmi questioned the rationale behind these policies, particularly the Central Bank’s handling of the currency’s value. He expressed concern that Nigeria’s naira is being devalued to the point of becoming worthless. Since the removal of the petrol subsidy in May 2023, the price of fuel has skyrocketed from around N200 per litre to approximately N1,000, further burdening Nigerians.

He noted that although the Dangote Refinery’s operation could eventually lower petrol prices, current figures from the Nigeria National Petroleum Company Limited (NNPCL) show prices remain between N855 and N897 per litre. Showunmi expressed frustration over the lack of clarity on how petrol pricing is being managed in the country.

Meanwhile, the ruling All Progressives Congress (APC) has blamed the PDP for the country’s current economic challenges. APC spokesperson Felix Morka stated that the Buhari administration spent eight years cleaning up the “mess” created by the PDP during its tenure from 1999 to 2015.

He accused the PDP of running a phantom economy where funds for national projects were mismanaged or diverted into private pockets.

See Video As Segun Showunmi Meets Fmr Ekiti Governor, Fayose, Over PDP Survival

@freelanews Segun Showunmi wrote: Yesterday, I visited H. E Former @GovAyoFayose, where I prostrated to him at his building site in Ikeja GRA to beg that we all come together to save our common patrimony. In the end, it will be clear that I have what it takes to lead this party, for I am committed. #pdp #fypシ #foryoupge #goviral #fyp #trending #foryou ♬ original sound – Freelanews