APC Leader Blames Decades Of Mismanagement For Nigeria’s Economic Woes, Backs Tinubu’s Reforms

According to Ireporter Online, All Progressives Congress (APC) chieftain Biodun Ajiboye has defended President Bola Tinubu’s economic reforms, attributing Nigeria’s current economic and social difficulties to longstanding mismanagement by previous administrations.

In an interview with ARISE Television on Tuesday, Ajiboye dismissed claims that the Tinubu government has worsened poverty, unemployment, and insecurity, stressing that the nation’s challenges did not develop overnight. He highlighted that years of fiscal mismanagement, including excessive money printing, oil forward-sales, and policy distortions, left the country in a precarious economic position.

Ajiboye said, “A country as beautiful as Nigeria does not collapse in a day. Let us trace the history of this collapse by successive governments. If as at May 2023 we had printed over ₦30 trillion, what were we expecting to happen afterwards?”

He emphasized that the reforms introduced by the Tinubu administration were necessary to prevent a total economic meltdown, comparing the situation to the crisis experienced in Sri Lanka. “You cannot clean up that mess in two years. What miracle are you expecting?” he added.

Ajiboye also criticized opposition figures, asserting that many of them had contributed to the problems they now condemn. He noted, “The mess we are seeing did not start today. Many of those shouting now were prominently part of it. Bring them out one by one and I will tell you the role they played.”

Defending President Tinubu’s frequent foreign visits, Ajiboye said international engagement is vital for economic recovery and attracting investment. “You cannot run a country sitting in one place. To run a good economy, you need allies. I was with him in Brazil. I know the strides we took. He is in Abu Dhabi and investments are coming in,” he stated.