As President Bola Tinubu’s administration marks two years in office, the National Chairman and 2023 presidential candidate of the Action Democratic Party (ADP), Engr. Yabagi Yusuf Sani, has described the administration’s economic reforms as courageous but lacking the structural foundation necessary to alleviate the widespread hardship facing Nigerians.
Speaking during a live appearance on Frontline, a current affairs programme on Eagle 102.5 FM, Ilese-Ijebu, on Wednesday, Sani commended the President’s willingness to take difficult decisions but questioned the framework and sincerity underpinning his economic strategy.
“What Bola Ahmed Tinubu is trying to do is run a highly geared capitalist economy in an environment that is substantially weak and poor. That’s the real problem,” Sani said.
The ADP Chairman acknowledged that some of the policy measures—such as the removal of fuel subsidy and the unification of the naira exchange rate—are theoretically sound and could yield positive outcomes in the long run.
However, he argued that the current economic climate reveals their harsh consequences on ordinary Nigerians.
“I will say it is a mixed bag. The reforms introduced by President Tinubu are without doubt bold, fundamental, and tough. On a long-term basis, they may yield the desired results, but right now, they’re hurting the common people,” he noted.
Sani criticized the administration’s approach to governance, stating that while the policies appear promising on paper, the challenge lies in effective implementation.
“Governments are always loud in policy declarations, but the problem lies in implementation. I haven’t seen anything that convinces me this administration will end up in the good books of Nigerians, economically speaking,” he added.
While he applauded the early shake-up of the Central Bank of Nigeria’s leadership, Sani questioned the rationale behind the proposed cabinet reshuffle and accused the administration of placing political expediency above institutional accountability.
He took particular issue with the recent leadership change at the Nigerian National Petroleum Company Limited (NNPCL), which saw Mele Kyari replaced with Bayo Ojulari Bashiru as MD/CEO. Sani described the move as political posturing rather than genuine reform.
“The government is playing politics with critical institutions. Programs may sound amazing, but their impact on Nigerians is barely visible,” he said, citing persistent joblessness, poor electricity supply, and elite-driven policies as major concerns.
Sani further lamented the disconnect between Tinubu’s economic vision and the socio-economic realities of Nigeria.
“When Tinubu came into office two years ago, around 103 million Nigerians were living below the poverty line. Today, that number has increased to 129 million. That means nearly 25 to 30 million additional people have slipped into poverty, largely due to the removal of fuel subsidies,” he stated.
He also condemned the recent 200% increase in electricity tariffs, describing it as an anti-people move that exacerbates an already dire economic situation.
“That decision has placed unbearable pressure on citizens and crippled many businesses. It’s unacceptable,” Sani declared.
The ADP chieftain warned that unless the administration realigns its reform agenda with the needs and realities of the Nigerian people, it risks eroding public confidence despite the boldness of its policies.
“No matter how ambitious your policies may look, if they don’t meet the needs of the people, they will be rejected,” he concluded.
