Tinubu confused about economic policies – Segun Sowunmi

Segun Sowunmi

Tinubu confused about economic policies – Segun Sowunmi

Segun Sowunmi, a chieftain of the Peoples Democratic Party (PDP), has criticized President Bola Ahmed Tinubu, saying he appears confused about handling the country’s economic policies. Sowunmi made these remarks during an interview on Channels TV’s Politics Today, where he discussed the government’s recent tough economic decisions.

Sowunmi expressed disappointment in Tinubu’s approach, stating, “I am so optimistic and I say it to people who ask me if Tinubu can’t figure out these things, I wonder who can. I think that, one, he is confused. Two, an explanation must be made to be smiling at Mele Kyari.”

He further questioned the Central Bank of Nigeria’s (CBN) policies, particularly regarding the value of the naira, and raised concerns about petrol pricing despite local refining. “I don’t understand what the CBN people are doing about the currency’s value. Are they telling me that by their imagination, by floating the currency, Nigeria’s currency will become toilet paper?” Sowunmi asked.

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Regarding fuel prices, he commented, “What exactly constitutes the science and commerce of pricing petrol when you are refining in your country? I have been reading many books on how we can work around this pricing and the research is still ongoing. When I finish it, I will come out with what we can consider.”

In response, Felix Morka, the APC National Publicity Secretary, defended Tinubu’s administration, stating that the president is committed to addressing Nigeria’s economic challenges. Morka said, “This president will not only fix the challenges but will demonstrate he means business by showing massive improvements in the long run, in a sustainable fashion.” He also emphasized that Tinubu inherited a difficult situation, noting that the previous President, Muhammadu Buhari, spent eight years trying to clear the mess created by the PDP’s 16-year rule.