Segun Sowunmi, a PDP chieftain, has criticized President Bola Tinubu’s economic decisions, claiming they reflect confusion. Sowunmi highlighted that recent moves to end fuel subsidies and float the naira have led to a sharp increase in the cost of living, with many critics echoing similar concerns about the country’s economic direction under Tinubu.
In his remarks, Sowunmi pointed out the drastic rise in petrol prices, from N200 to nearly N1,000 per litre since May 2023, despite the potential relief expected from the Dangote Refinery. He further questioned the Central Bank of Nigeria’s strategy, expressing doubts about the wisdom behind floating the currency, which has significantly impacted the value of the naira.
Sowunmi criticized the lack of clear communication on how fuel pricing is determined, especially considering domestic refining. He shared that he has been conducting research on better economic strategies and plans to present his findings once completed, hoping for solutions that can ease the financial burden on Nigerians.