‘IMF Feels Tinubu Is Not Punishing Nigerians Enough’ – Adebayo

The presidential candidate of the Social Democratic Party (SDP) in the 2023 elections, Prince Adewole Adebayo, has issued a strong warning to Nigerians, advising against placing pressure on the government to meet the expectations of the International Monetary Fund (IMF). According to Adebayo, such pressure could worsen the country’s already dire economic situation.

In an interview with Daily Post, Adebayo expressed his concern over the state of the nation, pointing out the negative effects of the policies implemented by President Bola Tinubu’s administration. He highlighted the IMF’s view that the Nigerian government is not imposing enough hardship on the population to push through necessary economic reforms, calling it a dangerous path. “The IMF feels that the government isn’t punishing Nigerians enough because they haven’t pushed through deeper reforms,” Adebayo explained. He further criticized the IMF’s assessment of Nigeria as a “resource-intensive” country, warning that aligning more closely with the IMF’s recommendations could worsen Nigeria’s economic woes.

Adebayo also took aim at the government’s lack of coordination, claiming that despite the appointment of ministers, the administration has failed to form a cohesive government capable of addressing the country’s problems. “They haven’t formed a government,” he asserted, adding that governance is not just about naming individuals to positions but about gathering the right talents to form an effective team. He also criticized the administration’s policies, such as the removal of the fuel subsidy, arguing that while actions have been taken, they lack the coherent strategy needed to drive long-term change.

The former presidential candidate also weighed in on former President Olusegun Obasanjo’s recent comments about Nigeria’s economic policies. While Adebayo agreed with some of Obasanjo’s observations, particularly regarding the need for better economic management, he criticized the former president for his past actions, such as the privatization of national assets like Nigeria Airways and NEPA. According to Adebayo, these decisions contributed to Nigeria’s current economic troubles, and Obasanjo should acknowledge these past mistakes rather than criticizing the current government for repeating them. “If Obasanjo is now criticizing state capture, he should remember that he was part of it,” Adebayo stated.

Despite his criticisms, Adebayo recognized that some of Obasanjo’s points, especially concerning governance and state capture, were valid. He called on the current administration to learn from past mistakes and focus on improving governance. “Obasanjo may have had bad policies, but he had the presence of mind to govern,” Adebayo concluded, “compared to the current leaders who seem to lack that ability.”

Looking forward, Adebayo suggested that the government needs to focus on a few critical areas to address the nation’s challenges. He emphasized the need for a strong security infrastructure, investment in agriculture to combat inflation, and strategies to create employment opportunities. He also pointed out that social investment, such as improving access to education and supporting welfare programs, could help boost the economy. “We need a government that can address these issues at their core, not just focus on politics,” Adebayo stressed.

In Adebayo’s view, governance is not just about rhetoric or politics but about delivering real solutions to the people. “While all of this politics is going on, governance must be on the ground in every facet,” he said. “This government is not on the ground, and they need to realize that whatever they are doing, it isn’t governance.”