Tinubu's Decision on Fuel Subsidy, Niger Coup Ineffective, Poor, says Ex-President, Obasanjo

Tinubu's Decision on Fuel Subsidy, Niger Coup Ineffective, Poor, says Ex-President, Obasanjo

  • Former president Olusegun Obasanjo has criticised President Bola Tinubu's administration for poorly implementing necessary economic policies
  • The former president also disapproved of Nigeria's handling of the coup in the Republic of Niger
  • Obasanjo urged the Tinubu-led administration to demonstrate complete honesty and transparency in governance

FCT, Abuja- Former president Olusegun Obasanjo has criticized president Bola Tinubu's administration for its alleged poor execution of the subsidy removal on petroleum products and the decision to float the naira.

While acknowledging the necessity of these policies, Obasanjo remarked that their implementation was flawed.

Former president Obasanjo identifies Tinubu's economic flaws, other details
Obasanjo speaks on Tinubu's economic moves Photo credit: Olusegun Obasanjo, Bola Tinubu
Source: Getty Images

As reported by Punch, these remarks were reportedly made during a colloquium titled "Nigeria’s Development: Navigating the Way Out of the Current Economic Crisis and Insecurity," held in Abuja over the weekend.

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Furthermore, Obasanjo disapproved of Nigeria's handling of the coup in the Republic of Niger.

The ex-president said:

“Today, the government has taken three decisions, two of which are necessary but wrongly implemented and have led to the improvisation of the economy and Nigerians.
"These are the removal of subsidy, closing the gap between the black market and official rates of exchange and the third is dealing with a military coup in Niger Republic."

Nigeria has yet to get it right

As reported by Vanguard on Tuesday May 28, the ex-president also bemoaned the current economic hardship, noting that Nigeria was yet to make the right economic decision to usher in much-needed development.

He said:

“The economy does not obey orders, not even military orders. I know that. If we get it right, in two years, we will begin to see the light beyond the tunnel.

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It requires a change of characteristics, attributes, and attitude by the leadership at all levels to gain the confidence and trust of investors who have alternatives.”

Nigeria losing economically

Obasanjo emphasised that the government needs to make greater efforts to attract foreign investments.

He said:

“Total Energy has gone to invest $6bn in Angola instead of Nigeria. If the truth must be stated, the present administration has not found the right way to handle the economy to engender confidence and trust for investors to start trooping in.
“They know us more than we know ourselves. And now they are laughing at us, not taking us seriously."

Need for honesty, transparency

Among other things, Obasanjo charged the Tinubu-led administration with complete honesty and transparency in dealing with governance.

He said:

“There must be honesty and transparency in government dealings and contracts and not lying with deception about these issues."

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Northern elder blasts Tinubu over economic moves, others

In another development, Legit.ng reported that Professor Usman Yusuf, a member of the Northern Elders Forum (NEF), described President Bola Ahmed Tinubu's government's Renewed Hope Agenda as hopelessness.

He noted that rather than injecting the Nigerian people with some hope capsules, the current administration has made Nigerians more hopeless in the last year since the ex-Lagos governor assumed office as the country’s president.

Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng

Source: Legit.ng

Authors:
Ezra Ukanwa avatar

Ezra Ukanwa (Editor) Ezra Ukanwa is a first-class graduate of Anchor University, Lagos. He holds a master's degree in mass communication. Ezra currently serves as the Current Affairs and Politics Editor for Legit.ng, where he covers events and provides insightful analysis and reportage on national issues. He was named best Campus Journalist (Anchor University Communications Award, 2019). Kindly contact him at: ezra.ukanwa@corp.legit.ng or +2349036989944

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