President Bola Tinubu’s proposal to provide N8,000 to 12 million homes for a period of six months has been criticized as an egregious attempt to steal public monies by Phrank Shaibu, Special Assistant on Public Communications to the Peoples Democratic Party’s Atiku Abubakar.
Shaibu claimed in a statement on Thursday that Tinubu’s plan to spend $800 million on palliatives under an opaque agreement was similar to the COVID-19 intervention initiative and the conditional cash transfer program of former President Muhammadu Buhari, which saw politicians keep food and supplies in their homes while the underprivileged went without.
He said that the interventionist policies of Buhari only served to make Nigerians poorer, as evidenced by statistics published by the National Bureau of Statistics.
According to Atiku’s assistant, Tinubu has sought for clearance of a $800 million loan that he claims would be distributed to 12 million homes for six months at a rate of N8,000 per household per month after abruptly announcing the elimination of the gasoline subsidy.
Statistics show that a Nigerian home has an average of 5.06 individuals as of 2019. Therefore, each member of a home will receive N1,600 per month, or N53 per day, under Tinubu’s uninspired proposal. How should they handle it?
Use the funds to purchase a daily cup of boiling groundnuts or a sachet of purified water? And he is the one they mention as having changed Lagos State’s economy? This has to be a joke or a more nefarious scheme to steal money from the government.
Shaibu said that Tinubu’s only economic strategy was to tax Nigerians.
He claimed that Tinubu has been revealed as an economic illiterate as a result of his fraudulent ascent to the presidency.
“Tinubu boasted that he would ‘develop Nigeria’s economy’ like that of Lagos, but this was all a scam,” Atiku’s adviser said. Statistics demonstrate that due to Lagos’ status as the former capital of Nigeria, over 70% of the city’s income originates from income taxes paid by private businesses that have operated there for decades.
“Tinubu promised to make Nigeria’s economy a $1 trillion economy, but it is all a scam and can never be accomplished,” one person said.
If Tinubu was truly serious about recovering the economy, according to Shaibu, he should have concentrated on investing in the agricultural sector, subsidizing output, and striving to achieve energy security, which is the foundation for fostering the required economic growth from SMEs.
The economy of Nigeria is mostly based on agriculture, he said. He ought to have allocated money to agricultural output and other matters that had an impact on crop yields. The majority agricultural rural regions are plagued by insecurity. Currently, more than 200 individuals have died under Tinubu’s supervision. He doesn’t appear to know how to approach this, though.
“The so-called palliatives Tinubu wants to distribute to the underprivileged are only another way to siphon money from the public coffers. Since the so-called palliatives are all a hoax, the Nigerian government has consistently denied requests to reveal a list of their recipients.
Tinubu has to quit attempting to mislead Nigerians who are still experiencing the negative effects of his poor economic policies.
There are also worries that the APC may utilize this strategy to resurrect previous strategies for purchasing votes by hiding behind the use of public cash.
No one should have any doubts: Trader Moni 2.0 is the intended palliative. The plan is nothing more than a way to carry out political campaigns and goals using public monies.
The fact that the present fake administration is thinking of taking the initiative at a time when the presidential election tribunal is expected to rule on the contentious election that put Tinubu in power is even more significant, he insisted.