Tinubu Government Hasn’t Found Right Way To Handle Nigeria’s Economy; Now Investors Are Laughing At Us –Obasanjo
Former President Olusegun Obasanjo criticized the economic policies of President Bola Tinubu’s administration, asserting that they have negatively impacted Nigeria’s economy. Obasanjo, through his media aide, Kehinde Akinyemi, expressed concerns over the adverse effects of policies such as fuel subsidy removal and exchange rate adjustments, which he claimed were poorly executed. He argued that these policies have deterred foreign investors from engaging with Nigeria.
According to Obasanjo, the current administration has failed to instill confidence and trust among investors due to its mishandling of economic matters. He emphasized the importance of fostering belief and trust in government leadership to attract investments and promote economic growth. Obasanjo criticized the government’s decision-making processes, citing examples of Total Energy investing billions of dollars in Angola instead of Nigeria.
Obasanjo stressed the need for a shift from transactional leadership to transformational and genuine servant leadership to address Nigeria’s economic challenges effectively. He emphasized the importance of consistency and continuity in economic policies to ensure stability and predictability, thereby incentivizing both domestic and foreign investment. Obasanjo highlighted the significance of honesty, transparency, and integrity in government dealings to inspire confidence in the private sector.
In conclusion, Obasanjo reiterated that tinkering with exchange rates is not a solution to Nigeria’s economic woes. He called for a comprehensive approach focused on policy consistency, integrity, and genuine leadership to stimulate economic growth and attract investments. Obasanjo’s assessment underscores the urgency of implementing effective economic strategies to address Nigeria’s economic challenges and restore investor confidence.
SaharaReporters
