Okupe: Tinubu Inherited A Collapsing Economy, Reforms Are Crucial For Recovery

Okupe: Tinubu Inherited A Collapsing Economy, Reforms Are Crucial For Recovery

Former presidential aide Doyin Okupe has defended President Bola Tinubu’s economic reforms, emphasizing their necessity for Nigeria’s recovery. Okupe argued that Tinubu inherited a severely weakened economy where 98% of revenue was consumed by debt servicing, necessitating...READ MORE…

drastic measures to avert a complete collapse.

In an interview with ireporteronline on Monday, Okupe described criticisms of Tinubu’s administration, which is under 18 months old, as “unfair and wicked.” He warned that without the reforms, the dollar-to-naira exchange rate could have soared to ₦17,000, and petrol prices might have climbed to ₦4,000 per liter.

Okupe stated, “The dollar at ₦1,700 could have been much worse—possibly ₦17,000. Fuel at ₦1,000 per liter could have skyrocketed to ₦3,000 or ₦4,000 if these reforms hadn’t checked escalating hyperinflation.”

He further blamed former President Muhammadu Buhari’s administration for exacerbating Nigeria’s economic challenges, accusing it of printing ₦30 trillion to conceal the country’s true fiscal state. Okupe lauded Tinubu’s reforms as critical for reversing the damage of the past decade and setting Nigeria on a path to recovery.

“Bola Tinubu has introduced serious reforms designed to lift the country from the dire straits it has been in over the past eight to ten years,” he added.

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