Posted 1/26/2024, 3:02:55 AM
NLC Head Critiques Tinubu Reforms for Worsening Hardship, Presidency Defends Long-Term Economic Plan
- NLC president criticizes Tinubu's economic reforms as worsening hardship for Nigerians, being too influenced by IMF and World Bank
- Information Minister defends reforms, says Nigerians will benefit soon as policies aim to stabilize economy and currency
- Reforms have included fuel subsidy removal, naira devaluation, but have increased inflation and costs for Nigerians so far
- NLC calls for cutting governance costs by 50% and investing in local refining capacity rather than imports
- Presidency says reforms aim to curb corruption/wastage and will restore value of naira, admits temporary pains for eventual gains