Obasanjo said Tinubu's misapplication of policies has left the economy comatose with foreign investors not motivated to come in.
Former President Olusegun Obasanjo has made a damning evaluation of President Bola Tinubu's one year in office, saying his policies were wrongly implemented.
The elder statesman's opinion was contained in a statement issued by his media aide, Kehinde Akinyemi, in Abeokuta on Sunday, May 26, 2024.
Akinyemi quoted Obasanjo to have spoken at a Colloquium: “Nigeria’s Development: Navigating the Way Out of the Current Economic Crisis and Insecurity” delivered at the Paul Aje Colloquium (PAC) in Abuja.
The former president picked out three key decisions of the current administration, which include fuel subsidy removal, foreign exchange rate unification, and handling of the military coup in Niger Republic.
Obasanjo noted that though the subsidy and foreign exchange decisions were necessary, Tinubu had mishandled their implementation, plunging the economy into crisis.
“The present Administration has not found the right way to handle the economy to engender confidence and trust for investors to start trooping in.
“Today, the government has taken three decisions, two of which are necessary but wrongly implemented and have led to the impoverisation 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.
“The way forward is production and productivity which belief and trust in government leadership will engender. No shortcut to economic progress but hard work and sweat,” the Ota farmer stated.
