American economist and Johns Hopkins University professor Steve Hanke has fiercely criticized Nigerian President Bola Tinubu for purchasing a new presidential jet amid the country’s ongoing economic struggles.
Hanke’s criticism follows Tinubu’s recent acquisition of a $150 million Airbus A330 private jet, which the president used for a recent trip to France. The renowned economist, known for his expertise in inflation analysis, highlighted Nigeria’s dire economic situation, pointing out the country’s soaring inflation rate. According to Hanke, Nigeria’s inflation is at an alarming 114% per year, significantly higher than the official figures. He shared a cartoon on his social media platform X on Tuesday.
In his cartoon and statements, Hanke labeled President Tinubu as “arrogant, ignorant, and incompetent,” condemning him for prioritizing personal luxury while many Nigerians face economic hardship. “Tinubu flaunted his new $100 million A330 private jet en route to France. Meanwhile, I accurately measure Nigeria’s inflation at a SHOCKING 114% per year,” Hanke stated.
President Tinubu embarked on his trip to France last Monday and returned on Friday using the newly purchased aircraft. This incident followed the release of one of three Nigerian presidential jets that had been previously seized by a French court in favor of a Chinese company due to a dispute involving the Ogun State Government.
Hanke’s cartoon and commentary underscore his disapproval of Tinubu’s actions, as the Nigerian public continues to grapple with severe economic challenges, including runaway inflation and widespread financial hardship.
