American economist and Johns Hopkins University professor Steve Hanke has sharply criticized Nigeria’s official inflation rate of 32% per year, labeling it “RUBBISH.”
According to Hanke, his independent analysis reveals that Nigeria’s actual inflation rate is a staggering 123% per year, approximately four times higher than the government’s reported figure.
Hanke’s condemnation extends to President Bola Tinubu, whom he accuses of presiding over a “MASTERCLASS IN ECONOMIC MISMANAGEMENT.”
NN News Media recall that this critique follows Tinubu’s recent purchase of a $150 million Airbus A330 private jet, which he used for a trip to France.
Hanke has previously highlighted the dire economic conditions in Nigeria, emphasizing the disconnect between the government’s luxury expenditures and the struggles faced by ordinary citizens.
Hanke shared a cartoon that underscores his views on Tinubu’s governance, describing the president as “arrogant, ignorant, and incompetent.”
