Newscenter Media News Bauchi State Governor, Bala Mohammed has voiced strong criticism of the Federal Government’s economic policies, asserting that they have exacerbated hardships for Nigerians.
Speaking at the World Bank’s launch of the Nigeria Development Update report in Abuja on Thursday, he highlighted the inadequacy of the current administration’s measures under President Bola Tinubu.
“The revenues available to state governments are not enough to address the challenges in states,” Mohammed stated. He urged a return to foundational economic strategies, noting, “We should go back to the basics. Nigerians are not enjoying the regime at this time across board, not only the federal government, including the state and local governments. Therefore, the onus rests on you, the finance and the managers of the economy.”
The governor emphasized the need for a comprehensive budget program and effective economic policies aimed at alleviating the prevailing hardships.
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“The money that we are sharing is not enough,” he remarked. “The report spoke about employment, wages, and how many per cent of Nigerians are even employed. Most of our people live in the informal sector; we should look at how we can make them self-employed.”
He further criticized the current economic policies, stating, “The purchasing power has dwindled, these policies are not working and you know that.”
During the event, Alex Sienaert, the lead economist of the World Bank in Nigeria, stressed the importance of backing the recently introduced macroeconomic stabilization reforms with initiatives to create productive jobs.
World Bank Country Director for Nigeria, Dr. Ndiame Diop, acknowledged the challenges posed by these reforms but affirmed their necessity for the nation’s long-term stability.
“Opposing or reversing these reforms would be detrimental to the development of the country,” he added.
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