Bauchi State Governor Bala Mohammed has expressed strong criticism of the Federal Government’s policies, which he claims have exacerbated hardships across the country.
During the launch of the Nigeria Development Update report by the World Bank in Abuja on Thursday, he stated that the economic strategies of President Bola Tinubu’s administration have not produced the intended outcomes.
Mohammed further highlighted that state governments are facing significant challenges due to insufficient revenue.
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He said, “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.
“We need to come up with a budget programme with economic policies that will reduce hardship. The money that we are sharing is not enough. 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.
“The purchasing power has dwindled, these policies are not working and you know that.”
In presenting the new report, Alex Sienaert, the lead economist for the World Bank in Nigeria, emphasized that for the nation’s economy to achieve the desired growth, the recently implemented macroeconomic stabilization reforms must be complemented by the creation of productive jobs.
World Bank Country Director for Nigeria, Dr. Ndiame Diop, acknowledged that while the reforms may pose challenges, they are essential for the country’s long-term stability.
He cautioned that opposing or reversing these reforms could hinder the nation’s development.
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