By Gabriel Ameh
The Democratic Front (TDF) has welcomed the recent assessment of Nigeria’s economy by the International Monetary Fund (IMF), describing it as a positive review of the reform agenda being implemented by the administration of President Bola Ahmed Tinubu.
In a statement signed by its Chairman, Mallam Danjuma Muhammad, and Secretary, Chief Wale Adedayo, the group, however, disagreed with suggestions linking the country’s rising poverty rate directly to the administration’s economic reforms.
According to TDF, available data indicate that a significant portion of the increase in poverty occurred between 2019 and 2023, before President Tinubu assumed office.
The group argued that the worsening poverty situation was largely driven by the economic fallout from the COVID-19 pandemic, which disrupted global and domestic supply chains, weakened economic activities, and reduced income opportunities for millions of Nigerians.
TDF noted that the IMF report referenced findings by the World Bank showing that poverty levels rose from about 40 per cent to 61 per cent during the period under review, stressing that the trend began before the implementation of the current administration’s reform policies.
The group also pointed to global economic uncertainties, including tensions in the Middle East and disruptions in international energy markets, as additional factors influencing Nigeria’s economic challenges.
According to TDF, the Tinubu administration’s reforms had begun to yield positive results before the latest geopolitical tensions, citing improvements in foreign exchange stability and relative moderation in petroleum pricing.
The group further highlighted the Federal Government’s recent approval of over N700 billion for payments to local contractors as evidence of efforts to stimulate economic activities, improve liquidity within the supply chain, and support broader economic growth.
TDF expressed optimism that the long-term benefits of the ongoing reforms would eventually translate into improved living conditions for Nigerians and urged citizens to remain supportive of the government’s economic recovery agenda.
