The administration change from Muhammadu Buhari to Bola Ahmed Tinubu under the All Progressives Congress has seen a profound impact on Nigeria's economic landscape. Promises of a transformative wave during campaigns have given way to a reality of burden-bearing for the populace.
Upon assuming office, Tinubu swiftly initiated measures that burdened citizens, including the removal of petrol subsidies and a drastic devaluation of the Naira. These actions triggered a domino effect, leading to business closures, unemployment spikes, and a surge in inflation, leaving many grappling with financial strain.
Further exacerbating the situation, the government announced steep hikes in electricity tariffs and transaction levies, prompting a cascade of price increases from other service providers. Despite nominal palliative gestures, such as salary awards and food releases, the impact has been minimal.
What adds insult to injury is the glaring disparity between the government's actions and its own indulgences. While imposing austerity measures on the populace, the leadership maintains a lifestyle incongruent with the economic reality faced by citizens, raising questions of accountability and leadership by example.
As the economic strain intensifies, calls for the government to reconsider its policies and alleviate the burden on the people grow louder. Failure to do so risks not only exacerbating social unrest but also prolonging the nation's economic woes.
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