Economist Questions Tinubu's Transport Fare Reduction Plan

Dr. Marcel Okeke, an economist, has challenged President Bola Tinubu's assertion that Nigerians will see reduced transportation costs starting October 1. Okeke stated that there is no "magic" solution to achieve this without additional funding.

He described Tinubu's directive to state governors as politically motivated, especially with the 2027 elections approaching. Although state governors are receiving increased allocations from the Federation Account, Okeke noted that the devaluation of the naira has diminished their purchasing power.

He illustrated this with the rising price of cement, which has increased from ₦3,000-₦4,000 in May 2023 to ₦12,000-₦15,000 today. Okeke expressed skepticism about governors' ability to implement new transport programs not included in their 2026 budgets without federal financial assistance.

He emphasized the need for the Federal Government to provide additional funds to support these initiatives and raised concerns about public fund management and potential leakages affecting government project implementations.