A former chairman of the All Progressives Congress, Adams Oshiomhole says there is nothing worse than the terrible economic situation President Bola Tinubu inherited from former President Muhammadu Buhari.
“The government inherited a terrible economic situation. Everyone knows it,” Mr Oshiomhole stated on Channels TV Tuesday.
Lamenting that Mr Buhari plunged Nigeria into huge debt, Mr Oshiomhole noted that “nothing can be worse” than what Mr Tinubu inherited from his predecessor.
Mr Tinubu’s “government inherited an economy in which our total national revenue was barely enough to serve our debt burden. Spending 96 per cent, which is to say every N100 Nigeria earns, 96 kobo (sic) is going to repay debt.”
“So you have only four kobo left to pay all the salaries. Nothing can be worse. But they came determined that they will do business unusual to arrest the drift and stabilise the economy,” the former Edo governor added.
Mr Buhari ruled the country for eight years, from 2015 to 2023, which critics described as some of the worst years under democratic rule in Nigeria.
Under his regime, Nigeria’s debt hit N46 trillion.
Ex-President Olusegun Obasanjo condemned the borrowing spree of Mr Buhari, saying accumulating debt for future generations is “foolish” and “criminal.”
