“You Want To Shock Your People To Death? ” Obasanjo Blasts Tinubu Over Excruciating Hardship In Nigeria
Former President Olusegun Obasanjo has leveled sharp criticism against President Bola Ahmed Tinubu’ s administration, accusing it of adhering blindly to outdated economic strategies prescribed by the International Monetary Fund (IMF) and World Bank. Obasanjo contends that Tinubu’ s embrace of the so- called ” structural adjustment” measures is misplaced, arguing that Nigeria lacks the foundational structure to benefit from such policies.
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In an interview with the Financial Times, Obasanjo rhetorically asked whether Tinubu intended to shock Nigerians to their demise with these policies. He disparaged Tinubu’ s approach as ” shock therapy, ” lambasting both the rationale behind it and its implementation. ” What is the shock? You want to shock your people to death, ” Obasanjo exclaimed critically.
He particularly questioned the decision to devalue the naira, pointing out that many local manufacturers heavily rely on imports for their production inputs. According to Obasanjo, devaluation under these circumstances undermines its intended benefits, such as boosting exports like oil.
The former president expressed skepticism about the efficacy of returning to strict monetary and fiscal orthodoxies, suggesting that even if sustainable, these measures might fall short of addressing Nigeria’ s economic challenges comprehensively.
In a separate event, Obasanjo visited First Lady Senator Oluremi Tinubu at the president’ s residence in Ikoyi, Lagos, on June 17th. During this visit, he extended felicitations to Mrs. Tinubu on the occasion of Eid al- Adha, also known as the Feast of Sacrifice.
Meanwhile, amidst growing concerns over food scarcity in Nigeria, the Senate has called on President Tinubu’ s administration to take urgent steps to mitigate the crisis. Members of the Nigerian Senate emphasized that the government cannot afford to overlook the plight of its citizens any longer. They urged immediate actions to address the pressing issue of food scarcity, highlighting the urgency of interventions to stabilize food supplies across the country.
Obasanjo’ s criticisms underscore broader discontentment with Tinubu’ s economic policies, suggesting a turbulent road ahead for the administration as it navigates these challenges amidst mounting public scrutiny and economic pressures…… CLICK HERE TO CONTINUE READING