Former President Olusegun Obasanjo has criticised President Bola Tinubu’s economic reforms, arguing that the sharp fall in the naira’s value has worsened poverty and reduced Nigerians’ purchasing power.Speaking at the Financial Times Africa Summit in London on Wednesday, October 21, Obasanjo said the exchange rate had moved from about ₦500 to the dollar to ₦1,500, claiming the devaluation had made Nigerians “poorer by 300 per cent.”
He also questioned the removal of petrol subsidies, arguing that corruption accounted for much of the previous subsidy costs and that tackling corruption could reduce the burden.Obasanjo further challenged the case for Tinubu’s second term, asking why Nigerians should support the continuation of policies he believes have worsened their economic situation. He called for stronger action against corruption and wasteful spending, as well as increased domestic production.👉 Follow Daily Times Nigeria for more updates.#DailyTimesNigeria #OlusegunObasanjo #Tinubu #NigeriaEconomy #trendingnow
Joseph Akwagiobe is a media contributor from Cross River State, Nigeria, currently based in Abuja. He is a graduate of Microbiology and has earned several professional certifications across diverse fields, reflecting his commitment to continuous learning, professional growth, and excellence.