Governors from Nigeria’s Peoples Democratic Party (PDP) have called on President Bola Ahmed Tinubu to urgently reassess the nation’s economic policies. Their appeal stems from growing concerns about the adverse effects of these policies on the lives of ordinary citizens, particularly the increasing economic difficulties being faced across the country.
The PDP governors have expressed alarm over the worsening economic situation, attributing much of the hardship to decisions such as the removal of fuel subsidies, fluctuating exchange rates, and other fiscal reforms. While acknowledging the government’s intent to implement transformative changes, they argued that these measures have significantly strained the financial stability of many households and increased poverty levels nationwide.
Central to their concerns is the removal of the fuel subsidy, a move that has triggered a rise in transportation costs and the prices of essential goods and services. The governors conceded that subsidy removal was a critical issue that required attention but criticized its implementation without adequate support mechanisms for those most affected. They urged the federal government to consider introducing targeted subsidies or direct relief measures to ease the burden on low-income earners.
Another issue highlighted was the naira’s floating exchange rate policy, which the governors described as a source of volatility in the economy. The unpredictable value of the currency has compounded challenges for businesses and households, further exacerbating inflation and reducing the purchasing power of the average Nigerian. To address this, the PDP governors recommended implementing strategies to stabilize the currency and restore public confidence in the financial system.
Beyond monetary policy, the governors also called for greater investment in critical
