‘Economy In Deep Trouble’ — Peterside Faults FG’s N90bn Hajj Subsidy

Founder of Stanbic IBTC, Atedo Peterside, on Thursday, faulted the Federal Government’s N90 billion subsidy for the 2024 Hajj.

Speaking on Channels Television’s Politics Today, he noted that the development is a setback to the nation’s economy.

Believing the move has a political undertone ahead of the next electoral cycle, he said: “This is not about religion but about politics. We are mixing religion and politics. So, what do we now expect Christians to do? – to say they want their own share of this subsidy?

“How are you going to refuse them? This is all about politics, perhaps someone feels that it is time for me to score some cheap political points.

READ ALSO: FG To Subsidize 2024 Hajj With N90bn Amid Economic Hardship

“You now come and send the wrong signal about our economy at a time when our economy is in deep trouble. We need to bring ourselves out of the hole. Each time you turn around and do something insignificant like this and throw away N90 billion, you set back the process by which investors and others can take you seriously.

“For me, it is not about just religion and pilgrimage, it is the setback of the economy by sending the wrong signals. The government should stop sending the wrong signals.”