APM Faults Tinubu’s Reforms, Laments Economic Hardship

The Allied Peoples Movement, APM, has criticised economic reforms introduced by President Bola Tinubu’s administration, saying the policies have contributed to worsening hardship across Nigeria.

The party’s reaction followed comments by Minister of Budget and Economic Planning Abubakar Bagudu, who acknowledged that the reforms, alongside global economic pressures, had contributed to cost-of-living challenges facing citizens.

In a statement, APM National Publicity Secretary Abubakar Yusuf said the minister’s remarks supported the party’s earlier warnings about the consequences of the government’s economic direction.

The party said Nigerians were facing rising living costs, business closures, unemployment and increasing difficulty in meeting basic needs, including food and healthcare.

APM criticised the removal of the petrol subsidy, the floating of the naira and increased taxation, arguing that the measures were implemented without sufficient safeguards to protect households and businesses.

According to APM, the government should have anticipated the effects of its policies and introduced stronger measures to cushion citizens from rising prices and declining purchasing power.

Bagudu, however, said the reforms were necessary to strengthen Nigeria’s public finances and establish conditions for sustainable and inclusive economic growth.

The minister acknowledged that the government did not anticipate the scale of the economic turbulence that followed the reforms, but attributed part of the pressure to global uncertainties, conflicts, international trade disruptions and tariff-related developments.

He also said the reforms had increased revenues available to the three tiers of government, giving states and local governments greater resources to fund infrastructure, education, security and other responsibilities.

He also said the government was targeting a $1tn economy by 2030 through the 2026–2030 National Development Plan.

APM maintained that increased government revenue should be matched by visible improvements in the lives of Nigerians.

It argued that reforms should also be judged by their effects on employment, household purchasing power and access to essential goods.

The disagreement highlights the continuing debate over the economic consequences of the Tinubu administration’s reforms and whether recent fiscal gains are translating into relief for citizens.

APM said government revenue should be used to effectively support productive sectors, protect vulnerable households and improve economic opportunities nationwide. It urged greater attention to immediate social impact.

The party’s position contrasts with the Federal Government’s argument that the reforms, despite short-term pressures, are intended to strengthen public finances and create conditions for longer-term economic stability and growth.