Former Edo State Governor and current Senator representing Edo North, Adams Oshiomhole, has urged Nigerians not to put the blame for the country’s economic problems solely on President Bola Tinubu.
Speaking during an interview on Channels Television’s Politics Today on Sunday, Oshiomhole said the economic hardship facing the country had started long before Tinubu became president.
According to him, the challenges were inherited, and the Tinubu administration has been working to fix them. “The Nigerian economy was already under recession before President Tinubu came in,” Oshiomhole said, stressing that the president did not inherit a healthy economy as some people have claimed.
He noted that even the National Bureau of Statistics, an official Nigerian body, had reported that the economy was already heading towards collapse before Tinubu took office.
“Contrary to what some people are saying, he did not inherit a growing economy. Even the National Bureau of Statistics—not just the IMF or the World Bank—had already indicated that we were heading for economic collapse,” he stated.
Oshiomhole also supported his view by referring to comments made by Anambra State Governor, Professor Chukwuma Soludo, during The Platform Nigeria event held on June 12. Soludo reportedly said, “The Nigerian economy was already under recession… It reminds us that the president came in just on time to save Nigeria from total financial collapse.”
The senator pointed to President Tinubu’s decision to reverse the naira redesign policy introduced by the Central Bank under the last administration. He said the policy had severely affected many poor Nigerians, especially in rural areas without access to banks.
“Before Tinubu was sworn in, many poor Nigerians in over 300 local governments without banking services had their money essentially confiscated,” Oshiomhole said. “President Tinubu reversed that. Today, those old Naira notes are valid again. That matters.”
While acknowledging that the cost of living remains high and that many people are still struggling, Oshiomhole said signs of economic recovery are beginning to appear. He noted that some positive changes have taken place, and that Tinubu’s administration is working to rebuild the economy step by step.
“Yes, 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,” he said.
