American Professor of Applied Economics, Steve Hanke, has described President Bola Tinubu as an economic disaster.
In a series of posts, the economist criticised Tinubu's leadership following his abysmal performance in his first year in office.
He highlighted the report by the Economist Intelligence Unit (EIU) 2024 Global Livability Index, which ranks Lagos 170 out of 173 cities.
"Of the 173 cities in @TheEIU's 2024 Global Livability Index, Lagos, Nigeria ranks a dismal 170.
No surprise. Today, I measure inflation in Nigeria at a punishing 108% per year.
Pres. Tinubu = Master of economic disaster."
Steve Hanke also noted that the Nigerian naira is the 8th worst currency in the world, as a result of a 21% depreciation against the US dollar.
"#NGAWatch🇳🇬: Economic disaster master Tinubu strikes back.
On this week's Hanke's #CurrencyWatchlist, the Nigerian naira is the 8th worst currency in the world. It has depreciated by ~21% against the USD since Jan-24."
In another post, the Professor mentioned that Nigeria's inflation is currently at 107%, which is higher than the 34% the government officials quoted.
"#NGAWatch🇳🇬: Today, I accurately measure Nigeria's inflation at 107% per year, 3 times higher than its rubbish official rate of 34.0% per year.
Pres. Tinubu = A masterclass in economic incompetence."
Nigeria is currently experiencing an economic crisis, with citizens lamenting their predicament.
Some Nigerians have announced plans to embark on a protest to express their discomfort with the hardship in the country.
Traders, businessmen, and workers continue to call on President Bola Tinubu to address the problems, following his promises of renewed hope.
Here are his posts.
Of the 173 cities in @TheEIU's 2024 Global Livability Index, Lagos, Nigeria ranks a DISMAL 170.
— Steve Hanke (@steve_hanke) July 17, 2024
No surprise. Today I measure inflation in Nigeria at a PUNISHING 108%/yr.
Pres. Tinubu = MASTER OF ECONOMIC DISASTER. pic.twitter.com/Ky2O9xsWfW
#NGAWatch🇳🇬: ECONOMIC DISASTER MASTER TINUBU STRIKES BACK.
— Steve Hanke (@steve_hanke) July 16, 2024
On this week's Hanke's #CurrencyWatchlist, the Nigerian naira is the 8TH WORST CURRENCY IN THE WORLD. It has depreciated by ~21% against the USD since Jan-24. pic.twitter.com/UNWYaGZoWs
#NGAWatch🇳🇬: Today, I accurately measure Nigeria's inflation at 107%/yr, 3x higher than its RUBBISH official rate of 34.0%/yr
— Steve Hanke (@steve_hanke) July 15, 2024
Pres. Tinubu's = A MASTERCLASS IN ECONOMIC INCOMPETENCE. pic.twitter.com/ab3OK19Ys1
