The recent criticism from American economist Steve Hanke regarding Nigerian President Bola Tinubu’s purchase of a $150 million Airbus A330 private jet has sparked significant conversation about the state of Nigeria’s economy. Hanke, a professor at Johns Hopkins University, has labeled Tinubu as “arrogant, ignorant, and incompetent” for prioritizing luxury travel amid ongoing economic struggles in Nigeria, where inflation rates are reportedly as high as 114% annually, far exceeding official figures.
Hanke’s comments were made following Tinubu’s trip to France, where he utilized the newly acquired jet. This acquisition comes at a time when many Nigerians are experiencing severe financial hardships, raising questions about the government’s priorities. Hanke expressed his disapproval through a cartoon shared on social media, emphasizing the stark contrast between Tinubu’s lavish spending and the economic suffering faced by the populace.
The timing of the jet purchase is particularly notable, as it follows the release of previously seized presidential jets, hinting at ongoing financial disputes involving the Nigerian government. Hanke’s critique highlights a growing frustration among economists and citizens alike regarding the government’s handling of economic issues, particularly in light of the rising cost of living and inflation that continues to impact daily life for many Nigerians.