Tinubu Stabilised Nigeria’s Economy but Yet to Find a Cure

Kindly Share This

By Lukman Babatope

Former presidential candidate of the Social Democratic Party (SDP), Prince Adewole Adebayo, has commended President Bola Ahmed Tinubu for stabilising Nigeria’s struggling economy but warned that the government has yet to provide a lasting cure for the nation’s deep-rooted challenges.

Speaking during a national television interview, Adebayo likened the economy inherited from former President Muhammadu Buhari to “an emergency room patient” and said Tinubu’s policies have, at best, stopped the patient from dying.

“The economy President Buhari left was poorly managed, an emergency room patient. What President Tinubu has done is to stabilise the patient. The patient won’t die immediately, but the ailment has not been fully diagnosed, so the cure is still missing,” Adebayo said.

Revenue and Borrowing: Tinubu Doing Better Than Buhari

The SDP chieftain acknowledged that Tinubu has recorded “one or two wins” in select sectors, particularly in revenue mobilisation.

“He’s managed to get more revenue, at least in nominal terms, and reduced domestic borrowing, which was the hallmark of Buhari’s public finance,” Adebayo noted. “So, in terms of the government’s balance sheet, Tinubu has performed better than Buhari.”

However, he stressed that inflation, infrastructure financing, and policy inconsistencies continue to undermine the progress.

Inflation Drop ‘More About Counting Than Real Progress’

Reacting to recent data that showed inflation dropping to 20.7% from 31.7%, Adebayo dismissed the figures as misleading, arguing that the decline was largely due to changes in methodology rather than true economic improvement.

“Inflation is a good number, better than before, but not one that will take you to the promised land,” he said.

Mixed Verdict on Tinubu’s Economic Agenda

While Adebayo credited Tinubu with stabilising the economy, he maintained that the reforms remain insufficient for sustainable recovery. Some of Tinubu’s measures, he said, initially worsened the situation but have since produced marginal gains.

“Over time, he appears to have one or two wins in two sectors, which is why people may be deceived into thinking the economy is already on the road to recovery,” he argued.

Analysts say Adebayo’s remarks echo broader concerns that Nigeria’s economy battered by inflation, weak currency, and rising debt requires deeper reforms beyond short-term fixes.