Former President Olusegun Obasanjo has made a critical assessment of President Bola Tinubu’s first year in office, stating that his policies were poorly implemented.
Advertisement
Obasanjo’s opinion was conveyed in a statement issued by his media aide, Kehinde Akinyemi, in Abeokuta on Sunday, May 26, 2024.
The statement quoted Obasanjo’s remarks at a Colloquium titled “Nigeria’s Development: Navigating the Way Out of the Current Economic Crisis and Insecurity,” delivered at the Paul Aje Colloquium (PAC) in Abuja.
Obasanjo highlighted three key decisions made by the current administration: the removal of fuel subsidy, the unification of foreign exchange rates, and the handling of the military coup in Niger Republic.
While acknowledging that the subsidy and foreign exchange decisions were necessary, he argued that Tinubu had mishandled their implementation, leading to an economic crisis that has impoverished the country and its citizens.
The former president emphasized that the way forward lies in production, productivity, and gaining the confidence and trust of investors through hard work and dedication.
Advertisement
He expressed hope that Nigeria can turn things around in two years if the right steps are taken, including a change in the characteristics, attributes, and attitudes of leadership at all levels.
Obasanjo cited the example of Total Energy, a company that has invested $6 billion in Angola instead of Nigeria, and urged the current administration to present itself in a manner that commands respect and seriousness from investors.
He stressed the need to move from transactional leadership to transformational and genuine servant leadership in order to attract and retain investors.
The retired military general cautioned against relying on wishful thinking or military orders to revive the economy, emphasizing the importance of hard work and sweat.
He emphasized that existing investors are disinvesting and leaving the country, making it challenging to persuade new investors to come in.
Leave a Reply