- The PRP said increase in electricity tariff was unreasonable.
- The party also noted increase in taxes and interest rates, despite economic hardship.
The Peoples Redemption Party (PRP) has sounded the alarm on Nigeria’s economic crisis.
The party blamed the government’s reliance on International Monetary Fund (IMF) and World Bank policies for the country’s woes.
In a statement by Falalu Bello, PRP national chairman, on Thursday, the party said the government’s continued use of these policies has led to unprecedented hardship for Nigerians, with the country’s misery index reaching an all-time high.
Bello said over 300 companies have closed due to harsh economic conditions, with many more on the brink of collapse.
The PRP National Chairman: “The government’s economic policies have failed Nigerians; we urge the government to rethink its approach and prioritize the welfare of Nigerians.”
The statement said the PRP is demanding a comprehensive review of the economy, including a reduction in the cost of governance and an increase in workers’ pay.
Bello added that the party is also calling for people-oriented agricultural and manufacturing policies to address the country’s economic challenges.
“Nigeria’s economic crisis has led to soaring poverty, inflation, and unemployment rates,” the statement continued.
“The country’s misery index, which measures the combined effects of inflation, unemployment, and poverty, has reached an all-time high.”
The PRP also called for a review of the economy comes as Nigerians continue to struggle with the harsh economic conditions.
“We will continue to pressure the government until they listen to the plight of Nigerians,” said Bello.
He added that as the economic crisis continues to bite, Nigerians can only hope that a solution comes soon.
The PRP’s call for a review of the economy may be the catalyst for change that the country so desperately needs.