Former President Olusegun Obasanjo has described President Bola Tinubu’s policies on fuel subsidy removal and exchange rates as necessary but “wrongly implemented.

Obasanjo’s position is coming as Tinubu’s government rolled out activities marking his one year anniversary.

The Ota-farmer zeroed in on three decisions of the administration which include fuel subsidy, exchange rates and the dealing with military coup in Niger Republic.

His media adie, Kehinde Akinyemi, in a statement issued in Abeokuta on Sunday, quoted Obasanjo to have spoken at a Colloquium: “Nigeria’s Development: Navigating the Way Out of the Current Economic Crisis and Insecurity” delivered at the Paul Aje Colloquium (PAC) in Abuja.
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He lashed out at Tinubu’s government, saying “the present Administration has not found the right way to handle the economy to engender confidence and trust for investors to start trooping in.”

Obasanjo said “Today, the government has taken three decisions, two of which are necessary but wrongly implemented and have led to impoverization of the economy and of Nigerians. These are removal of subsidy, closing the gap between black market and official rates of exchange and the third is dealing with a military coup in Niger Republic.

“The way forward is production and productivity which belief and trust in government leadership will engender. No shortcut to economic progress but hard work and sweat.”

To him, “Economy does not obey orders, not even military orders. I know that. If we get it right, in two years, we will begin to see the light beyond the tunnel. It requires a change of characteristics, attributes and attitude by the leadership at all levels to gain the confidence and trust of investors who have alternatives.
He further said “Total Energy has gone to invest 6 billion dollars in Angola instead of Nigeria. If the truth must be stated, the present Administration has not found the right way to handle the economy to engender confidence and trust for investors to start trooping in.

“They know us more than we know ourselves. And now they are laughing at us, not taking us seriously. We have to present ourselves in such a way that we will be taken seriously. If the existing investors are disinvesting and going out of our country, how do we persuade new investors to rush in. We can be serious if we choose to be but we need to change from transactional leadership in government to transformational and genuine servant leadership.

With change by us, the investors will give us the benefit of doubt, and security being taken care of on a sustainable long-term basis, they will start to test the water. With the right economic policies, attributes of integrity and honesty of purpose, all should be well with all hands on deck and the government becoming a catalyst for development, growth and progress.

To conclude on the economy, “tinkering with the exchange rate is not the answer. The answer is consistency and continuity in policy to ensure stability and predictability. That way, we will be sure of incentivizing domestic and foreign investment. There must be honesty and transparency in government dealings and contracts and not lying with deception about these issues. When the government is seen as pursuing the right policy, the private sector will go for production and productivity.

https://dailytrust.com/breaking-your-policies-implemented-wrongly-obasanjo-slams-tinubu/

That is how powerful a leaders decision can be.

Past leaders inaction brought us to where we are now

W

You can't give what you don't have. His incompetency is indescribable. Still the senile demented Soyinka Laurette is brain dead on the starvation and suffering of NPAWARIANS.

Though am not surprised because aihzimers disease is real. Indescribable mistake of amalgamation

Ebibedike1:
Past leaders inaction brought us to where we are now

But Tinubu and his gang stood against Goodluck Jonathan decision to remove subsidy as far back as 2012 to the extent of organizing and sponsoring protests against the decision

Oya agbados should come out and call him agbaya ati baba ale ooo.

Ofunaofu:


But Tinubu and his gang stood against Goodluck Jonathan decision to remove subsidy as far back as 2012 to the extent of organizing and sponsoring protests against the decision

The ashiere will ignore this your comment we know them dem be eleribu wey just get sense.

We had PDP, even though wasn't perfect but was superb. Then the virus APC came and do what they're best at (destroying cells and weaken the immune system).

Olodo claiming sophisticated while being goad on to the destruction of Nigeria by his zombies.

Before going into government, they all have the solutions, after leaving government, they all have the solutions but while in government, they can't do anything.
Nigerian Airways crashed under OBJ
Nigerian railways crashed under OBJ
Same as NITEL, ALSCON, Steel mining, refineries, MTEL, Banks folding up etc etc, today he has the solutions he couldn't provide for 8 years.

You also made several mistakes when you were the president.

Ehen, Rivers workers how far una promotion?

JagabanB:
Before going into government, they all have the solutions, after leaving government, they all have the solutions but while in government, they can't do anything.
Nigerian Airways crashed under OBJ
Nigerian railways crashed under OBJ
Same as NITEL, ALSCON, Steel mining, refineries, MTEL, Banks folding up etc etc, today he has the solutions he couldn't provide for 8 years.

He had to liberize sectors

Obasanjo the hypocrite.

Lavor234:

He had to liberize sectors

And sank so many sectors.
He knows there are people that will clap for him that's why he's here talking today.

Ofunaofu:


But Tinubu and his gang stood against Goodluck Jonathan decision to remove subsidy as far back as 2012 to the extent of organizing and sponsoring protests against the decision

That was the external force of opposition then but today's opposition are dump by not know how and what to do against present government that is doing anyhow. Many Nigerians don't have political party but they want good changes and good governance which made them to embraced a popular political opposition to dislodge the unsatisfying one.

JagabanB:

And sank so many sectors.
He knows there are people that will clap for him that's why he's here talking today.

Sorry I don't argue with paid Propandists. I am not paid to be stupid

Tinubu and APC Government of Calamity 😡😡😡

Lavor234:

Sorry I don't argue with paid Propandists. I am not paid to be stupid

If you can be paid coins to type trash online, then we are not in same league man.