Nigerian entrepreneur and investment banker, Atedo Peterside, says the economic reforms embarked upon by the Tinubu administration are making the rich richer while the poor are getting poorer.
Peterside stated this during an interview on Arise News on Monday night November 2, where he spoke on the state of the economy and the rising poverty level in the country.
According to him, the answer to whether the reforms are working depends entirely on who is asked.
“If you’re upper middle class, I can probably show on the blackboard and you have investments in the stock exchange and all that stuff, I can show on the blackboard that you’re probably better off in the last three years.
If you’re a worker, low income worker, somebody like that without much savings and struggling to meet what 100 million Nigerians have to do to eat two meals a day and struggling to pay your bills, I can show you that you’re a lot worse off.
So what I’m saying is that when you say are the reforms working, the rich are getting richer, the poor are getting poorer. So if you ask a rich man, he’ll tell you he’s working because he’s getting richer. But if you ask a very rich man, he’ll tell you the reforms are fantastic.
I’m not going to lie. In terms of my investments and so on, income is getting higher. But that’s not my concern. My concern is for the 140, 130 million Nigerians who are poor, who are getting poorer” he said