Tinubu instructed governors to prepare the ground, yet Nigerians endure an economic crisis, according to Falana
Falana Slams Tinubu's Economic Policies as Deepening Poverty in Nigeria
Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has criticised President Bola Tinubu's economic policies as harsh neoliberal reforms that have significantly deepened poverty and wiped out Nigeria's middle class.
Falana points to the removal of fuel subsidies, currency liberalisation, and an aggressive privatisation agenda as key contributors to soaring inflation, rising food prices, and worsening living conditions for millions of Nigerians.
According to Falana, these policies are implemented in a rigid, almost religious manner, heavily influenced by international financial institutions. He believes that this has accelerated poverty instead of alleviating it.
The lawyer argues that the privatization of national resources contradicts efforts to reduce income inequality, as it effectively transfers wealth to a small elite rather than addressing the needs of the broader population.
Falana stresses that most Nigerians now struggle to afford basic necessities such as three meals a day, and that the middle class, which is typically a stabilizing economic force, has been wiped out under Tinubu's administration. He highlights President Tinubu's acknowledgment of the harsh economic crisis but contends that the administration’s policies have only worsened the situation.
To mitigate the hardship, Falana calls for a review of the neoliberal economic policies and urges Tinubu to persuade state governors to enact social investment programs into law to better support vulnerable Nigerians, especially in rural areas. This recommendation implies that Falana favours more targeted social welfare interventions over the current broad market-led reforms.
One such social welfare programme is the National Social Investment Programme, which was codified under the Social Investment Programme Agency Act in 2023. Falana believes that this programme, if legally backed urgently, could be a potential solution to the current hardship in Nigeria.
Falana also believes that welfare laws are necessary to eradicate poverty. He has lamented that Tinubu's economic policies have deepened poverty in the country.
References: [1] Premium Times [2] The Guardian [3] Sahara Reporters [4] Vanguard [5] The Punch
- Femi Falana, a human rights lawyer, has criticized President Tinubu's economic policies, dubbing them as harsh neoliberal reforms that have exacerbated poverty in Nigeria.
- According to Falana, the policies introduced by President Tinubu, such as fuel subsidy removal, currency liberalization, and aggressive privatization, have contributed to rising inflation, increased food prices, and worsening living conditions for Nigerians.
- Falana suggests that a review of these neoliberal policies is necessary, and President Tinubu should persuade state governors to enact social investment programs into law to support vulnerable Nigerians through more targeted social welfare interventions.
- Falana believes that welfare laws are essential for eradicating poverty and has expressed concern that Tinubu's economic policies have deepened poverty in Nigeria.
