Prince Adewole Adebayo, the Social Democratic Party (SDP) presidential candidate in the 2023 election, criticized President Bola Tinubu’s handling of Nigeria’s economy.
According to Adebayo, Tinubu inherited a poorly managed economy from former President Muhammadu Buhari but has yet to identify the real issues affecting it.
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He likened the economy to an emergency room patient whose condition is stabilised but whose underlying problem remains undiagnosed.
On Saturday, Adebayo said, “He has only managed to stabilise the economy from the emergency room situation, but he has not been able to identify the country’s ailment.”
He acknowledged some gains under Tinubu, including higher nominal revenue collection and a reduction in domestic borrowing.
However, he cautioned that the real impact remains limited due to poor policies and high inflation.
“It’s slightly better but far, far away from where it ought to be,” Adebayo noted.
Discussing the government’s tax reforms, he said, “Everybody knows that President Bola Tinubu, even in his private life, is a well-known tax collector.
“This reform is okay. It’s not the best, but it’s far better than what they had before.”
He emphasised, however, that while macroeconomic indicators like inflation have shown minor improvements, the real economy and microeconomic effects on households are yet to reflect meaningful progress.
On Atiku Abubakar’s warning of possible unrest due to hunger and insecurity, Adebayo dismissed the notion of revolution, urging instead for policy reforms.
“What you need is a more accountable government, a government that is more responsive and smarter in the management of our resources,” he said.
Adebayo stressed that Nigeria requires targeted investment in infrastructure, education, healthcare, and agriculture to create jobs, reduce inflation, and strengthen the economy sustainably.
He concluded, “We need to serve the people who elected them. I hope for a better Nigeria.”
