Tinubu’s Plan Was to Fix the Economy in 24 Months, But… — Oshiomhole

Former Edo State Governor, Adams Oshiomhole, has revealed that President Bola Ahmed Tinubu and his economic team had a 24-month target to turn Nigeria’s economy around, but the country is still grappling with the consequences of tough early reforms. Speaking during an interview on Politics Today on Tuesday night, Oshiomhole said the hardship currently facing Nigerians was not anticipated to last this long.

He pointed to what he described as the gross misuse of the “ways and means” facility by the previous administration, claiming it led to dire economic consequences that Tinubu’s government has been forced to confront. “We expected that in 24 months, he would have fixed all those problems, and Nigeria would be back,” Oshiomhole said. “But due to the seriously bad economy the President inherited, Nigerians are still going through hard times.”

According to him, Tinubu took early steps to steer Nigeria away from the kind of economic collapse seen in Zimbabwe, where the national currency became nearly worthless. Despite the current difficulties, Oshiomhole expressed optimism that the long-term benefits of Tinubu’s policies would begin to emerge and that the President would have a strong case for re-election in 2027.

He was particularly critical of the administration of former President Muhammadu Buhari, accusing it of mismanaging the economy and recklessly using the “ways and means” facility to print trillions of naira without economic backing. “That amount of money chasing a limited supply of goods explains today’s exchange rate regime,” he said, blaming the resulting inflation and cost-of-living crisis on those actions.

Oshiomhole said that although the economic pain has lasted longer than anticipated, he believes Nigeria has turned a corner. He urged businesses that have begun to benefit from the reforms to pay their workers living wages, saying this would help restore purchasing power and ease the burden on ordinary citizens. “This country was badly mismanaged. The economy was terribly handled. That’s not to blame anyone—it’s simply stating the facts. But I believe the worst is over,” he said.

While acknowledging that President Tinubu has not yet achieved his goal of dramatically improving the lives of Nigerians, Oshiomhole described the situation as a work in progress. “The surgeon has begun the operation. He understands the level of pain required. But the good news is that the patient is healing. Maybe not as fast as hoped, but the key point is: the patient is healing.”

He concluded by commending Tinubu for confronting difficult economic challenges head-on, stating that many Nigerians may not fully understand the severity of the situation inherited by the current administration.