The lawmaker repres\u00e8nting Edo North, Senator Adams Oshiomhole, has urged Nigerians to stop blaming President Bola Tinubu for the country\u2019s economic woes, arguing that Tinubu inherited an already failing economy on the brink of collapse.\n<\/p>\n
Speaking on Channels Television\u2019s Politics Today on Sunday, the ex-Edo State governor stated emphatically that Nigeria\u2019s economic challenges predate Tinubu\u2019s administration.\n<\/p>\n
According to him, it would be both unfair and intellectually dishonest to hold the president solely responsible for the current hardships, as the economy was already in recession before Tinubu took office.\n<\/p>\n
\u201cThe Nigerian economy was already under recession before President Tinubu came in,\u201d Oshiomhole declared.<\/p>\n
\u201cContrary to what some people are saying, he did not inherit a growing economy. Even the National Bureau of Statistics\u2014not just the IMF or the World Bank\u2014had already indicated that we were heading for economic collapse\u201d, he added.\n<\/p>\n
To reinforce his argument, Oshiomhole referenced the Democracy Day speech by Anambra State Governor, Professor Chukwuma Soludo, delivered at The Platform Nigeria, an event hosted by The Covenant Nation in Lagos on June 12.\n<\/p>\n
In the address, Soludo praised Tinubu for taking decisive steps to rescue the nation from fiscal insolvency.<\/p>\n
Oshiomole quoted Soludo as saying, \u201cThe Nigerian economy was already under recession. As we speak, even the IMF and the World Bank are not the ones to tell us who we are. But the fact is that our Bureau of Statistics has informed us that the economy is on the path of growth and development.\n<\/p>\n
\u201cIf you want to further understand this, while you quote opposition figures, take time to read the lecture delivered by Professor Soludu on Democracy Day to an enlightened community in Lagos. It\u2019s very informative.\n<\/p>\n
\u201cIt reminds us that the president came in just on time to save Nigeria from total financial collapse. So if a country is already on the verge of insolvency and somebody has come to rescue it, the first thing you do is to stabilise it before you begin to record growth. And we are already beginning to record that growth.\u201d\n<\/p>\n
Oshiomhole also pointed to Tinubu\u2019s intervention in reversing the controversial naira redesign policy introduced by the previous administration, which had left millions of Nigerians without access to their hard-earned money.\n<\/p>\n
\u201cBefore Tinubu was sworn in, many poor Nigerians in over 300 local governments without banking services had their money essentially confiscated. The currency they worked hard to earn was declared invalid by the CBN. President Tinubu reversed that. Today, those old Naira notes are valid again. That matters,\u201d he said.\n<\/p>\n
The former Nigeria Labour Congress president acknowledged the struggles ordinary Nigerians continue to face, particularly with the rising cost of living and declining purchasing power, but maintained that progress is being made.\n<\/p>\n
\u201cYes, there are still serious problems. Purchasing power is low, and people are struggling. But the recovery is on. Nigeria is a work in progress. It could be faster, but no one can say that the situation has remained static since Tinubu assumed office,\u201d\u00a0he\u00a0concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"The lawmaker repres\u00e8nting Edo North, Senator Adams Oshiomhole, has urged Nigerians to stop blaming President Bola Tinubu for…\n","protected":false},"author":2,"featured_media":188086,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,77196,1700,77197,3007,55491,77198,285,2794,74943,16983,16,15],"class_list":{"0":"post-188085","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economic-woes","10":"tag-economy","11":"tag-naira-redesign","12":"tag-nigeria","13":"tag-nigerian-economy","14":"tag-oshiomhole","15":"tag-politics","16":"tag-recession","17":"tag-soludo","18":"tag-tinubu","19":"tag-uk","20":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114691174805236696","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/188085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=188085"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/188085\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/188086"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=188085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=188085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=188085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}