Categories: Government

Nigerian President Tinubu Condemns Protest Plans Over Economic Woes

Amid growing concerns over Nigeria’s escalating cost-of-living crisis, President Bola Tinubu has denounced plans for nationwide protests.

In a statement posted on social media, he accused the organizers of fueling public anger and compared the situation to the unrest in Sudan.

The president’s comments came after meetings with governors and leaders, prompted by calls for daily demonstrations starting August 1. These protests aim to address soaring food and fuel prices.

Nigeria, Africa’s most populous nation, is grappling with inflation rates nearing a three-decade high of 34.2%. Approximately 40% of its 200 million citizens live in extreme poverty.

President Tinubu has implemented several measures to ease these burdens, including:

  • Suspending tariffs on food imports for six months
  • Distributing grains to communities
  • Doubling the monthly minimum wage to 70,000 naira ($44)

Despite these efforts, many citizens remain frustrated with the rising costs and are demanding additional reforms, such as reinstating fuel subsidies and mandating public school attendance for government officials’ children.

In his statement, President Tinubu promised loans for students and consumer credit for purchasing cars. He also criticized those inciting protests, suggesting they had ulterior motives.

“They hold meetings and sponsor anger,” he remarked, emphasizing the potential dangers of such actions.

Security services have assured the public that while they will protect citizens’ rights to peaceful protest, they are prepared to prevent any violence.

The current unrest echoes the 2020 #EndSARS protests, which began as demonstrations against police brutality but evolved into broader demands for good governance. Those protests ended when military forces intervened in Lagos.

Social media campaigns reminiscent of #EndSARS are driving the current movement, mirroring recent protests in Kenya and Uganda. These leaderless demonstrations have proven challenging for authorities to suppress.

If the protests proceed, they may further strain Nigeria’s social fabric, highlighting the tension between citizens and the government.

President Tinubu’s administration continues to balance the need for economic reform with maintaining public order, as the nation watches closely for developments.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Dollar to Naira Black Market Exchange Rate Today, 22nd January 2025

The dollar to naira exchange rate continues to be a focal point in Nigeria's financial…

6 hours ago

Pounds to Naira Black Market Exchange Rate Today, 22nd January 2025

The pounds to naira exchange rate continues to be a critical topic in Nigeria’s financial…

6 hours ago

MTN Nigeria Secures NCC Approval to Renew and Harmonise 800MHz Spectrum Licences

MTN Nigeria Communications PLC has received approval from the Nigerian Communications Commission (NCC) to renew…

11 hours ago

CAC Strengthens Compliance and Enforcement Responsibilities, Targets Business Formalization

The Corporate Affairs Commission (CAC) has outlined plans to enhance its compliance and enforcement responsibilities,…

12 hours ago

Nigeria Could Generate Over $2 Billion from Carbon Market by 2030 – UNN

The University of Nigeria, Nsukka (UNN), has projected that Nigeria could earn over $2 billion…

12 hours ago

Trump Restricts Citizenship Rights for Babies of Undocumented Parents

President Donald Trump has signed an executive order titled “Protecting the Meaning and Value of…

17 hours ago