APC Chieftain Ajiboye Blames Previous Governments for Nigeria’s Collapse, Defends Tinubu’s Economic Reforms

Biodun Ajiboye, a prominent member of the All Progressives Congress (APC), has supported President Bola Tinubu’s economic reforms, claiming that Nigeria’s current social and economic problems are the result of long-standing systemic failures by previous administrations.

According to reports, Ajiboye rejected claims that the Tinubu administration had made poverty, unemployment, and insecurity worse in an interview with ARISE Television on Tuesday.

The magnitude of Nigeria’s current problems, according to Ajiboye, is a result of years of fiscal mismanagement, including excessive money printing, oil forward sales, and policy distortions inherited by the current administration. He contended that the nation’s economic collapse did not happen overnight.

“A country as beautiful as Nigeria does not collapse in a day,” he declared. Let’s examine how different governments have contributed to this downfall over time.

What were we anticipating if, as of May 2023, we had printed more than ₦30 trillion? What did people expect to happen if they printed money carelessly and sold oil that was still underground?

Ajiboye stated that the Tinubu administration’s economic reforms were inevitable, pointing out that before remedial action was taken, the nation was in danger of completely collapsing.

“What do you think would have happened by now if the reforms had not come?” he observed. We were on the verge of a crisis similar to Sri Lanka. That disaster cannot be cleaned up in two years. What kind of miracle are you hoping for?

Ajiboye charged opposition leaders with hypocrisy, claiming that many of them had served in earlier governments that caused the issues under scrutiny.

“The mess we are witnessing did not begin today,” he declared. There were a lot of people shouting now that were clearly involved. I’ll explain their roles to you if you bring them out one by one.

Ajiboye also justified President Tinubu’s frequent trips abroad, arguing that global engagement is essential for investment inflows and economic development.

“You cannot run a country sitting in one place,” he continued. You need allies to manage a healthy economy. In Brazil, I was with him. I am aware of the progress we made. Investments are rolling in while he is in Abu Dhabi.