A chieftain of the Peoples Democratic Party (PDP), Segun Sowunmi has stated that President Bola Tinubu’s economic policies has shown that he is confused.

Naija News reports that critics have condemned the president’s move to end fuel subsidy and float the naira which has led to a hike in the cost of living.

Speaking during an appearance on Channels Television’s Politics Today on Friday, Sowunmi said Tinubu is confused about economic policies.

“I am so optimistic and I say it to people who ask me, ‘If Tinubu can’t figure out these things I wonder who can.’ I think that, one, he is confused,” he said

The PDP chieftain said, “I don’t understand what the CBN people are doing relative to the value of the currency. Are they telling me that by their imagination, by floating the currency, Nigeria’s currency will become toilet paper?”

“The price of petroleum has gone up from around N200 per litre since May 2023 to about N1,000 at the moment.

“Although the coming onstream of the Dangote Refinery is expected to cut the price, the Nigeria National Petroleum Company Limited (NNPCL) pegged the cost of the commodity between N855 and N897 per litre.”

“What exactly constitutes the science and commerce of pricing petrol when you are refining in your country?

“I have been reading a lot of books on how we can work around this pricing and the research is still ongoing. When I am done with it, I will come out with what we can consider.”