The sociopolitical group of Pan-Yoruba, AFENIFER, urged President Bola Ahmed Tinubu to focus on implementing an economic revolution that achieves a growth no less than 10 percent over the next 30 years, instead of a neoliberal economic reform that produces only a 3 percent growth in an economy of the imported export inherited from colonial effectiveness.
In addition, the group accused the administration of Tinubu to prioritize the empowerment of the masses they suffer instead of focusing on balancing foreign debts, only to incur more through excessive governance costs, which attributed to alleged gloomy contracts and “unnecessary prebendal appointments.”
AFENEFER issued this statement, signed jointly by its interim leader, Oba Oladipo Olaitan, and the Secretary of National Advertising, Prince Judge J. Faloye. A copy of the statement, made available to journalists on Friday, insisted that Nigeria's current economic problems were self -inflicted. The group criticized the president's decision to eliminate fuel subsidies before the Dangote refinery works again, as promised in his own manifesto, describing him as a fatal error.
In addition, the socio -political group argued that the Tinubu administration should not have floated the Naira, while the country still depended largely on imported oil products, which constitute a third of its import law project. He argued that these two bad weather policies had cost millions of life and, in some cases, their lives. The group also commented that efforts to reduce food prices amounted to a mere “medicine after death”, blaming the government's negligence crisis.
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AFENEFER regretted that the challenges faced by Nigeria were the result of anti-people economic policies imposed by the administration of Tinubu. He affirmed that the elimination of fuel subsidies with a bad weather had stifled economic growth, preventing the country from recovering the true value of its currency due to poor economic management.
However, the group acknowledged that fuel prices and other import costs could fall further if the funds saved by the elimination of subsidies were reinvested in the currency market, as had been done since January with $ 8 billion.
“The problem has been anti-people economic policies. We are not closer to El Dorado than in 1978 when educational subsidies were eliminated, which forces students to trust loans.
“Fuel prices and other import costs could decrease even more if the funds saved from fuel subsidies are injected into the currency market, as has been done since January with $ 8 billion. The elimination of time start subsidies has killed the golden goose, which makes it impossible to completely recover the true value of our currency due to poor economic management, ”said the group.
“In addition, we must focus on creating a true wealth and value instead of fixing on economic rates. Unfortunately, the Administration remains without an idea of how to improve the living standards of Nigerians and stimulate consumer or producers markets to generate wealth.
“For example, housing is the basis of the consumer market, the best good for consumers. Unfortunately, Nigeria has 20 million homeless people, the highest number in the world, but only 20,000 houses were budgeted in the 2025 budget. At this rate, it would take 1,000 years to solve the housing crisis, assuming that there is no population growth.
“The Government must aim to build 20,000 homes daily, such as China and India, or at least 10,000 homes a day, to have a significant impact,” said Agenifere.
With respect to the infrastructure, in particular the rail networks to facilitate the movement of goods and services, especially agricultural products, AFENEFF urged the administration of Tinubu to revitalize the sector. He argued that any serious government should be able to build at least 10 kilometers of rail per day, noting that “India and China build about 15 kilometers of railroad daily.”
“The United States has 260,000 kilometers of railroad, China has 155,000 kilometers, India has 135,000 kilometers, while the duration of the total Nigeria railroad, built during a century, is only 4,174 kilometers, an amount that could be built in a year at a rate of 10 kilometers per day,” the group said.
Affer, however, clarified that their recommendations were not politically motivated, but are aimed at rescuing the nation from poverty worsening, which has led to an increase in kidnappings, robberies and other economic crimes.
“The political class must realize that we are sitting in a time bomb. If the poor can no longer bear these difficulties, an explosion is inevitable. A time in time saves nine, ”he warned.