Renowned human rights lawyer and Senior Advocate of Nigeria, Femi Falana, on August 04, 2025, delivered a scathing critique of President Bola Tinubu’s economic policies, asserting that they have decimated Nigeria’s middle class and exacerbated poverty across the nation.
Speaking on Channels Television’s Politics Today, Falana highlighted the removal of fuel subsidies in May 2023 and the liberalization of the naira exchange rate as pivotal moves that triggered a cost-of-living crisis, with inflation soaring to 33.4% by July 2025. He noted that despite Tinubu’s recent acknowledgment of widespread hardship and his call to APC governors to “wet the ground” with social programs, the policies have pushed millions into dire straits, with the middle class, previously estimated at 15% of Nigeria’s 220 million population—now struggling to afford basics like rent and food.
Falana pointed to data from the National Bureau of Statistics indicating that 70 million Nigerians live below $2.15 daily, a figure worsened by a 40% rise in food prices and a 50% increase in transport costs since 2023. He criticized the lack of transparency on how saved subsidy funds, estimated at $10 billion annually, have been utilized, contrasting this with government expenditures like a new presidential jet.
While Tinubu’s administration defends these reforms as necessary to curb corruption and stabilize the economy, with GDP growth reaching 3.4% in 2024, Falana argued that the benefits have not trickled down, leaving the middle class “reduced to beggars.” The narrative of economic hardship is a growing public sentiment, though the government counters that long-term gains will emerge, a claim that remains unproven amid rising discontent.