Harsh Economic Realities
OpenLife News reports that Professor Hussain Abdullahi has issued a scathing verdict on President Bola Tinubu’s economic policies, saying they have turned Nigeria into a “graveyard of businesses” following the exit of ride-hailing giant Uber.
Uber officially ended its Nigerian operations on September 2, 2026, after 12 years in the country. While the company cited a “review of business priorities,” Abdullahi and other opposition voices say the real reason is Nigeria’s harsh economic climate.
In an interview with OpenLife, Abdullahi said Uber’s departure, alongside the shutdown or scale-down of several multinationals, proves there is a widening gap between government claims of progress and the reality on ground.
He described the coumtry as turning into “a graveyard of businesses”
“Certainly, a 0.2% growth does not justify the extreme hardship that Nigerians are suffering,” he said.
He faulted the Tinubu administration for celebrating a marginal 0.2 percentage-point improvement in GDP at a time businesses are closing and jobs are disappearing.
According to Abdullahi, Nigeria’s poverty rate has ballooned to 63%, affecting an estimated 140 million Nigerians since Tinubu assumed office in 2023.
“President Tinubu should explain 0.2% GDP growth to the 140 million Nigerians who have been sunk into poverty,” he said.
He said millions of citizens are sinking deeper into poverty while the ruling party celebrates “meaningless mileages.”
Abdullahi blamed Uber’s exit on a hostile operating environment, pointing to soaring energy and transport costs. He noted that fuel prices rose by as much as 1,700%following subsidy removal and naira devaluation.
He also cited a Manufacturers Association of Nigeria report that 767 manufacturing companies, including 20 iconic global brands, have shut down or ceased operations since 2024, while hundreds more are distressed.
Uber Moves To AI Robotaxis In London
Just a day after leaving Nigeria, Uber launched autonomous ride-hailing services in London using AI technology from British startup Wayve. London becomes the second European city after Zagreb, Croatia, to get Uber robotaxis.
The company said its decision to exit Nigeria followed a review of its investment focus, but critics argue it reflects a broader exodus of foreign businesses unable to cope with Nigeria’s current economic realities.
About Author
