The administration of President Bola Tinubu and former President Olusegun Obasanjo have differed over the nation’s economic policies that have impoverished Nigerians since the commencement of the civilian rule.
Obasanjo had in a recent interview with News Central Television, insinuated that Tinubu took office without a strategy and that is why his administration has been embarking on policy summersaults.
He said Tinubu is bereft of plans and workable policies to address the challenges rocking Nigeria.
The presidency however responded, asserting that Obasanjo backed down from enacting crucial economic policies during his tenure that could have aided Nigeria in times of opposition.
The presidency further claimed that the significant reforms Obasanjo hesitated to pursue are now being implemented by President Bola Tinubu for the nation’s benefit.
In a statement from Temitope Ajayi, Senior Special Assistant to President Tinubu on Media and Publicity, Ajayi defended Tinubu’s policies, emphasizing that the current president is taking the decisive actions that Obasanjo failed to initiate twenty years ago.
Ajayi pointed out that the same “planless” president is now advancing an ambitious economic reform program that Obasanjo had proposed but later abandoned.
The discussion revolves around how both leaders addressed the contentious issue of fuel subsidy removal, a sensitive topic that has historically been avoided due to its potential to provoke unrest.
The contrast between the two leaders reflects the differences in their willingness to tackle this significant issue.
Historically, Obasanjo attempted to fully deregulate the downstream oil sector but ultimately retreated due to strong opposition from labour and civil society groups. He managed only to raise pump prices four times throughout his presidency, failing to implement the reforms that could have generated substantial economic benefits for Nigeria.
In contrast, President Tinubu has shown the courage to proceed with the deregulation policy and redirect the economy to enhance public finance management. This, Ajayi acknowledged, while referencing Obasanjo’s 2003 national address, where he expressed frustration with labour opposition to deregulation.
The presidency noted that had Obasanjo succeeded in deregulation, Nigeria could have avoided significant economic losses and inefficiencies, which continue to affect citizens today.
In rejecting Obasanjo’s claims that Tinubu entered office unprepared, Ajayi argued that the current president recognised the urgent need to confront economic challenges directly.
“Unlike Obasanjo, who left critical tasks unaddressed, Tinubu has actively tackled pressing issues from day one, understanding the weight of leadership responsibilities,” he maintained.
... Tinubu, Obasanjo Disagree Over Hardship, Painful Economic Policies In Nigeria ... Investors King.
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