The presidential candidate of Young Progressives Party (YPP), Mr Peter Agada, has faulted the federal government’s 90-day action plan to ease cost of living, describing it as a campaign strategy that did not reflect economic reality.
Agada said the President Bola Tinubu’s administration had failed after introducing numerous economic measures without results.
The Minister of Finance and Coordinating Minister of Economy, Mr. Taiwo Oyedele, had announced that the National Executive Council (NEC) approved a 90-day plan to cushion the high cost of living on Nigerians.
Reacting in an interview in Abuja, Agada said the economic team of the President had lost focus.
“I align with those who opine that the economic team of Mr. President has failed to address Nigeria’s numerous economic challenges. I have listened to many analysts, but none spoke positively in support of the economic team,” he said.
He noted that the minister had earlier announced subsidy intervention and a 17-point plan, including reduction of pump price, removal of illegal levies, but nothing was done, prompting resort to a 90-day timeline.
“These promises back and forth are for Nigerians to believe and vote them back into office. If you believe in the rules of the game they are playing, there are just 85 days to election, and you are saying a 90-day timeline to cushion the cost of living. So, after the election, what happens? These guys are playing mind games,” he said.
Agada questioned feasibility of reversing hardship created in past three years within 90 days, recalling previous interventions announced in 2023, including N75 billion injection in manufacturing, N75 billion for micro SMEs, N50 billion conditional grants, grain and fertilizer distribution, two metric tonnes release, N200 billion to cultivate 500 hectares, N50 billion each to rice farmers, N100 billion to CNG initiative, state infrastructure fund and minimum wage increase, which he said were never fully implemented.
He said the government later removed tariffs on food importation which did not fight food inflation but only affected calculation.
“If you said you were fighting food inflation, then return food prices to where they were before you took office,” he said.
He further alleged that import waiver cuts pushed customs revenue to N35 trillion with about 60 per cent for military hardware importation without accounting.
As an alternative, Agada recommended his Labour-Direct ward-to-ward development strategy, which he said can empower Nigerians with N40 million monthly and capture all Nigerians within 60 days of implementation.
“Labour-Direct, ward-to-ward strategy remains an option that can capture all Nigerians within 60 days. At the moment, they have to take a look at our ward-to-ward plan. If they approach me to implement a 60-day development plan, Nigerians will have more confidence,” he said.
Onyebuchi Ezigbo
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