The Labour Party’s 2023 governorship candidate, Gbadebo Rhodes-Vivour, has raised concerns about Nigeria’s current economic reforms. According to him, these policies are causing widespread hardship for the majority while benefiting only a small group of elites.

President Bola Tinubu’s administration introduced significant changes after taking office in May 2023. Key reforms include the removal of the fuel subsidy and allowing the naira to float. While these measures aim to stabilize the economy, they have also led to higher inflation and financial strain for everyday Nigerians.

Speaking during an interview on Channels Television, Rhodes-Vivour stated, “Today, over 70% of people’s income is spent on transportation and food. They can’t even think about affording housing. Meanwhile, there’s wasteful spending in government that doesn’t reflect the tough economic reality the President is preaching.”

He further argued that the main beneficiaries of these reforms are bankers, government officials, and individuals close to the President. “How many Nigerians can say they’re actually benefiting from these reforms?” he asked.

With inflation rising and basic living costs becoming unbearable, many Nigerians are questioning whether these reforms are designed to help the majority or just a privileged few.