Former Governor of Cross River State, Donald Duke, has strongly criticized the economic policies of President Bola Tinubu, urging the administration to prioritize the needs of the people over luxury spending.
In an appearance on “Inside Sources with Laolu Akande” aired on Channels Television, Duke emphasized that the government’s policies should be centered around the welfare of the citizens. He pointed out that President Tinubu’s decision to remove subsidies on petrol and electricity simultaneously was a “fundamental error.”
Key Points:
People-Centric Policies: Duke stressed the importance of making the economy work for the people, rather than implementing policies that burden them. He advocated for reducing energy prices to enhance productivity and economic growth.
Inflation Drivers: He identified high energy costs, over-inflated contracts, ill-distribution of wealth, and high interest rates as key factors driving inflation in Nigeria.
Daily Concerns: Duke highlighted that most Nigerians are more concerned about their daily bread and butter than the intricacies of governance. Therefore, it is the government’s responsibility to ensure citizens’ basic needs are met.
Economic Productivity: He emphasized that the primary function of the government is to ensure the productivity of its citizens within an orderly environment. Duke noted that Nigeria’s high unemployment and dependency ratios indicate a largely unproductive economy.
Import Dependence: The former Governor criticized Nigeria’s over-reliance on imports, suggesting that leaders should leverage the country’s large population to foster a productive, manufacturing, and agrarian economy. He pointed out that over 60% of the pressure on Nigeria’s foreign exchange earnings comes from oil imports, which could be significantly reduced through domestication.
Duke’s critique underscores the need for the government to focus on policies that directly benefit the people, rather than indulging in luxury expenditures such as purchasing new jets and yachts while the population struggles with basic needs
