Obasanjo Criticizes Tinubu’s Economic Policies

Former President Olusegun Obasanjo has criticized President Bola Tinubu’s economic policies, particularly the removal of fuel subsidies and exchange rate adjustments, describing them as necessary but poorly implemented.

Speaking at the Paul Aje Colloquium in Abuja, Obasanjo argued that these policies have led to economic hardship and eroded investor confidence. He emphasized that the government’s approach has been counterproductive, leading to the impoverishment of Nigerians.

Obasanjo highlighted three key issues: fuel subsidy removal, exchange rate alignment, and handling of the military coup in Niger Republic. He stressed the need for productive and consistent economic policies to restore investor trust and stimulate growth.

“Economy does not obey orders, not even military orders. If we get it right, in two years, we will begin to see the light beyond the tunnel,” Obasanjo remarked. He called for a shift from transactional to transformational leadership, urging the government to foster honesty, transparency, and stability to attract both domestic and foreign investments.

Obasanjo also pointed out that major investments, such as Total Energy’s $6 billion project in Angola, are bypassing Nigeria due to the current administration’s ineffective policies. He concluded by stating that consistent and transparent policies are crucial for economic progress and investor confidence.

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