Labour Party (LP) governorship candidate in the 2023 general election, Gbadebo Rhodes-Vivour, has criticized the economic reforms introduced by President Bola Ahmed Tinubu’s administration, alleging that they only benefit a select group of individuals.
Since taking office in May 2023, President Tinubu has implemented significant changes, including the removal of fuel subsidies and the floating of the naira. Despite Tinubu’s commitment to sustaining these measures, Rhodes-Vivour argues that these reforms have caused widespread hardship for the majority of Nigerians.
Speaking during an interview on Channels Television on Thursday, Rhodes-Vivour lamented the struggles faced by ordinary Nigerians.
“The people are experiencing unprecedented hardship. Today, over 70 percent of people’s income is spent on transportation and food,” he said. “They’ve not even started to think about how they can afford accommodation.
“We have a situation where there is a culture of wastefulness and extravagance that does not reflect the dire economic situation the same President claims needs to be reformed,” Rhodes-Vivour continued.
He further alleged that the benefits of these reforms are concentrated among bankers, government officials, and Tinubu’s close allies. “The only people that seem to be benefitting from these reforms are maybe the bankers, the people in government, and the President’s friends,” he said. “How many Nigerians can say they are benefitting from any reform right now?”
Rhodes-Vivour’s comments come as Nigerians grapple with soaring inflation rates, largely driven by the removal of the fuel subsidy and the fluctuating value of the naira.