Prince Adewole Adebayo, former presidential candidate of the Social Democratic Party (SDP), has likened Nigeria’s economy under ex-President Muhammadu Buhari to a patient in critical condition, saying President Bola Ahmed Tinubu has only managed to stop the bleeding, not cure the illness.
Speaking on Channels Television’s Politics Today on Tuesday, September 16, Adebayo said: “It is obvious that the economy that President Buhari left was poorly managed, was an emergency room patient, and, like any emergency room patient, the road to recovery would be a good diagnosis by the doctor.
“What President Tinubu has done is to stabilise the patient, but I’m not so sure that he has managed to know the ailment. So, the patient is not going to die immediately, but he hasn’t found a cure.”
He explained that Tinubu’s early policies worsened matters but admitted that the administration has since gained ground in a few areas.
READ ALSO: Obi Hasn’t Left Labour Party, Tanko Replies SDP’s Adebayo
“Over time, he appears to have one or two wins in two sectors, which is why it appears that they may be deceived into thinking that the patient is on his road to recovery,” he said.
Adebayo credited the President for improving revenue and reducing reliance on domestic borrowing.
“He’s managed to get more revenue, at least in nominal terms… However, in terms of the balance sheet, President Tinubu has managed to have a better balance sheet than Buhari left him,” he observed.
On inflation, the SDP stalwart cast doubt on the reported decline, describing it as a product of methodology rather than reality.
“Inflation is a good number, better number than before. But it’s not a number that’s going to take you to the promised land,” he cautioned.