According to a report by Vanguard on Monday, June 1, 2026, Adewole Adebayo, the presidential candidate of the Social Democratic Party (SDP) in the 2023 general election, has criticised the economic direction of President Bola Tinubu’s administration, stating that Nigerians are currently experiencing worse living conditions compared to the period before the government assumed office in May 2023.
He maintained that key policy decisions taken so far have not translated into improved welfare for citizens, particularly in relation to income levels, cost of living, and general economic stability.
Adebayo made the comments during an interview on Channels Television’s Sunday Politics programme, where he expressed concern over what he described as persistent economic hardship affecting households across the country.
He argued that the administration has not adequately addressed rising inflation, unemployment, and other structural challenges, insisting that these issues continue to place significant pressure on ordinary Nigerians.
During the television appearance, he further accused the government of failing to provide sufficient solutions to security concerns in different parts of the country.
According to him, the combination of economic difficulties and insecurity has continued to shape the daily realities of many citizens, while policy responses have not met public expectations or delivered meaningful relief.
In a separate earlier appearance on the same television station, Adebayo focused his criticism on what he described as the administration’s strong emphasis on generating revenue through taxation.
He suggested that the government’s fiscal approach prioritises tax collection over broader economic relief measures, a strategy he believes could increase financial strain on citizens if not carefully managed.
He further explained that the reliance on taxation as a major revenue tool risks expanding into multiple areas of daily life if not checked.
In his view, the scope of taxation under the current administration could gradually widen beyond conventional sources, thereby affecting more aspects of personal and business activities within the country.
Adebayo also reiterated that economic policy direction should be balanced with measures that protect citizens from excessive financial pressure.
He maintained that governance should focus on improving productivity, reducing hardship, and ensuring that fiscal policies do not deepen existing economic challenges already being faced by the population.
“President Tinubu is a clever tax collector. He wants to collect taxes from you for everything, including the oxygen tax, very soon,” Adebayo had said.
“If you’re not careful, yes, the air we breathe. Just give him time; he’s going to get there.”
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