The African Democratic Congress (ADC) has launched a sharp criticism of the federal government led by President Bola Tinubu, following the recent departure of ride-hailing service Uber from Nigeria. In a statement issued in Abuja, ADC National Publicity Secretary Mallam Bolaji Abdullahi asserted that this exit signifies a troubling trend where numerous multinational companies are either closing their operations or scaling back significantly.
According to the ADC, the increasing number of business closures reflects a mounting lack of confidence in the Tinubu administration’s ability to effectively manage the economy. The party pointed out that while the government boasts of a slight 0.2% growth in Gross Domestic Product (GDP), this is starkly contrasted by the real struggles confronting businesses and everyday Nigerians.
The ADC highlighted the paradox of celebrating economic growth amidst rising poverty rates, which reportedly affect about 63% of the Nigerian population, translating to roughly 140 million individuals living in poverty. It challenged the government to provide tangible benefits from this marginal growth to the Nigerian populace.
The party criticized the current government for not addressing the harsh realities faced by regular citizens and businesses, who are grappling with escalating energy costs following the removal of petrol subsidies and currency devaluation. The coalition reported that various notable companies, including Microsoft and Shoprite, have either ceased operations or significantly reduced their presence in Nigeria.
Furthermore, ADC’s criticism extended to the administration’s governance strategies, questioning the implications of a growing number of businesses exiting and what this means for employment and economic stability in Nigerian households. The remark was made that every business departure is tantamount to a vote of no confidence in Tinubu’s leadership.
In related news, former Vice President Atiku Abubakar welcomed calls from the Independent Petroleum Marketers Association of Nigeria (IPMAN) for government intervention to lower petrol prices, suggesting that the government’s current stance is misaligned with the realities faced by everyday Nigerians. He emphasized the necessity of restoring a targeted fuel subsidy geared towards easing the economic burden on citizens.
Atiku further expounded on the distinction between past subsidy regimes and his proposed measures aimed at bolstering local refining capacities, asserting that such actions are critical in alleviating the financial pressures on Nigerian families.
