Page Nav


Breaking News:


Ads Place

Ads Place

Obasanjo knocks Tinubu over fuel subsidy removal, exchange rate unification

Former President Olusegun Obasanjo has criticized President Bola Tinubu’s approach to implementing fuel subsidy removal and exchange rate unification, stating that while these actions are necessary, their execution was flawed.

Speaking at a colloquium in Abuja, Obasanjo emphasized the importance of effective leadership and proper implementation to avoid economic hardships for Nigerians.

He also addressed the issue of the refurbished refinery in Port Harcourt, dismissing critics as “sycophants and spin doctors” and defending his stance based on past decisions and understanding of the situation.

Furthermore, Obasanjo outlined the challenges facing Nigeria’s economy and proposed solutions, including a 25-year development agenda and a shift from transactional to transformational leadership.

He emphasized the need for consistency, transparency, and honesty in government policies and dealings to attract both domestic and foreign investment.

Obasanjo highlighted the importance of learning from past mistakes and adopting a multi-faceted approach to address the root causes of Nigeria’s economic and security challenges.

Obasanjo said, “Firstly, we must know where we are coming from. Our economy has consistently suffered from poor policies, lack of long-term sustainable policies, discontinuity, adhocry, and corruption firmed on personal greed, avarice, incompetence, lack of knowledge and understanding, and lack of patriotism.

“For instance, the statement and proposed actions given forty-five years ago to stop fuel scarcity are the same statement and action being touted today. I recall when I made the statement that the refineries would not work, the sycophants and spin doctors of this current administration went out to castigate me as not being a petroleum engineer and that I did not know what I was talking about.

“They forgot that the attempt that was made in 2007 to partly privatise the refineries was made by me after a thorough study of the situation. But the decision was reversed by my successor and the 750 million dollars paid was refunded.”


No comments