Tinubu’s source of wealth unknown; his govt looting billions from oil theft as hunger plagues Nigerians – Financial Times
The Financial Times (FT) has raised significant concerns about President Bola Tinubu’s source of wealth.
FT equally accused Tinubu’s administration of looting billions through oil theft while millions of Nigerians suffer from hunger and poverty.
In an editorial published on Wednesday, the FT criticises Tinubu’s disjointed policies, which have exacerbated the plight of tens of millions of Nigerians, pushing them further into poverty.
“Corruption must be confronted. It does not help that Tinubu’s own substantial wealth remains obscure, nor that his Minister for Poverty Alleviation was suspended over allegations of funds diversion, which she denies,” the FT argued.
It added, “It also does not assist that the state is implicated in the large-scale theft of oil, depriving the nation’s coffers of billions of dollars. Tinubu must utilise all his political acumen to stem this theft.”
According to FT, instead of handing out bags of rice to Nigerians, what is needed is direct cash payments to people’s phones, the technology for which exists, and in the longer term, a proper safety net, which the state lacks the capacity or probity to administer.
FT’s critique follows the anniversary of Tinubu’s first year in office on 29 May. Previously, The New York Times had similarly reported on how Tinubu’s policies have deepened poverty in Nigeria.
Senator Ali Ndume, a member of All Progressives Congress, last week condemned the administration for its insensitivity to the suffering of Nigerians, describing it as being run by “kleptocrats.”