Obasanjo gives Tinubu solutions to Nigeria’s economic woes

“The economy does not obey orders, not even military orders.
I know that. If we get it right, we will begin to see the light beyond the
tunnel in two years. 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 said.

Recall that in June last year, Tinubu’s administration
announced fuel subsidy removal and the Harmonization of Foreign exchange
markets.

In April, fuel pump price surged by 176.02 per cent on a
year-on-year basis to N701.24 per litre compared to N255.06 last year.

Similarly, the country’s Naira dropped to N1482.81 per
dollar last Friday from N465.50 per dollar on June 14, 2023.

This development has led to a surge in prices of goods and
services, as headline and food inflation increased to 33.69 per cent and 40.53
per cent, respectively.