BREAKING: Obasanjo Lists Tinubu’s 2 Wrong Policies That Caused Economic Crisis

  • Ex-President Olusegun Obasanjo has blamed President Bola Tinubu for Nigeria’s current economic woes
  • OBJ, as he is fondly called, maintained that some policies of the current administration were necessary but wrongly implemented
  • The former President, who made the remark at a Colloquium in Abuja at the weekend, also noted that Tinubu’s wrong and third decision was the position in dealing with the coup in Niger

TheTalk.NG journalist Esther Odili has over two years of experience covering political parties and movements.

FCT, Abuja – Former President Olusegun Obasanjo has described President Bola Ahmed Tinubu’s policies on fuel subsidy removal and exchange rates as necessary but “wrongly implemented.”

Obasanjo: Subsidy removal, naira float, right policies but wrongly implemented

As reported by Daily Trust on Monday, May 27, Obasanjo’s position comes as Tinubu’s government rolls out activities marking his one-year anniversary.

The former president zeroed in on three decisions of the administration, which included fuel subsidy, exchange rates, and dealing with the military coup in Niger Republic.

Obasanjo’s remark was revealed in a statement by his special assistant on media, Kehinde Akinyemi, on Sunday, May 26.

He quoted Obasanjo as having spoken at a colloquium delivered at the Paul Aje colloquium (PAC) in Abuja.

He lashed out at Bola Tinubu’s government, saying:

“The present Administration has not found the right way to handle the economy to engender confidence and trust for investors to start trooping in.”

As reported by ThisDay, Three of the decisions criticised by the former president were removal of fuel subsidy, closing the gap between black market and official rates of exchange, while the third is dealing with military coup in Niger Republic.

Obasanjo speaks on way forward

Speaking further, Obasanjo urged Bola Tinubu’s government to focus on local production and productivity and noted there is no shortcut to economic progress.

“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,” Obasanjo said.

Obasanjo to Tinubu: “Approach Zimbabwe for solution to inflation”

Earlier, TheTalk.NG reported that on Monday, March 4, former president, Olusegun Obasanjo, advised Nigeria under the leadership of President Tinubu to approach the government of Zimbabwe for a solution to the country’s rising inflation.

He noted that since Zimbabwe was recently confronted with the same problem and came out of it, the southern African country would have useful advice for Nigeria.

Obasanjo said the times of challenges were not to give up but to face the problem head-on.

Source: TheTalk.NG

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