Kehinde Fajobi
Bauchi State Governor, Bala Mohammed, has voiced strong criticism of the Federal Government’s economic policies, stating that they are exacerbating hardship across the country.
Speaking at the launch of the Nigeria Development Update report by the World Bank in Abuja on Thursday, Mohammed expressed dissatisfaction with the outcomes of President Bola Tinubu’s administration’s economic strategies.
Mohammed said the revenues allocated to state governments are insufficient to tackle the challenges at the grassroots level.
“We should go back to the basics,” he said. “Nigerians are not enjoying the regime at this time across the board, not only the federal government, but also the state and local governments. The onus rests on you, the finance and the managers of the economy.”
The governor emphasised the need for more effective economic policies to ease the burden on citizens.
“We need to come up with a budget programme and economic policies that will reduce hardship,” he said. “The money that we are sharing is not enough. The report spoke about employment, wages, and how many per cent of Nigerians are even employed. Most of our people live in the informal sector; we should look at how we can make them self-employed.”
He added that the purchasing power of Nigerians has significantly diminished, blaming current policies for failing to deliver the desired results.
“These policies are not working, and you know that,” he remarked.
Presenting the World Bank report, Alex Sienaert, the lead economist for Nigeria, noted that in order to achieve sustainable economic growth, the government’s macroeconomic stabilisation reforms must be paired with efforts to create productive jobs. He urged Nigeria to pursue policies that boost employment and support long-term economic health.
Dr Ndiame Diop, the World Bank Country Director for Nigeria, echoed Sienaert’s sentiments. While acknowledging the challenges posed by the reforms, Diop emphasised their importance for the country’s future stability.
“Opposing or reversing these reforms would be detrimental to Nigeria’s development,” he warned.