The National Secretary of the All Progressives Congress (APC), Senator Bashiru Ajibola, human rights lawyer Ebun-Olu Adegboruwa, SAN, and Ogun State chieftain of the Peoples Democratic Party (PDP), Segun Sowunmi, presented sharply divergent views on President Bola Ahmed Tinubu’s economic policies during a panel discussion at the 70th anniversary of the Ibadan branch of the Nigerian Bar Association (NBA).
Diverging Opinions on Tinubu’s Policies
While Adegboruwa and Sowunmi criticized the policies for allegedly deepening poverty, inflation, and causing the “Japa” (mass emigration) syndrome, Ajibola staunchly defended the president, asserting that his administration is implementing the best solutions for Nigeria’s economic challenges.
The topic under discussion was “The Tinubu Administration’s Economic Agenda and Policy: How Far? So Far.” Each speaker highlighted their perspective on the current state of Nigeria’s economy and the way forward.
Adegboruwa: Calls for Restructuring and Policy Consistency
Adegboruwa pointed out perceived inconsistencies in Tinubu’s approach to governance, advocating for the implementation of the APC’s manifesto and true federalism.
“If you go through the APC constitution and manifesto, we have devolution of power. Look at how we have not been able to tackle restructuring and true federalism,” he said. “The Orosanye report highlighted how Nigeria’s bureaucracy is overbloated, suggesting the merger or scrapping of some agencies. The president should focus on infrastructure, as most of our roads are in disrepair, creating an enabling environment for businesses to thrive.”
He further criticized the administration for failing to ensure policy consistency and argued that the judiciary should remain independent. Concluding his remarks, Adegboruwa rated Tinubu’s administration poorly, stating, “How far so far? We haven’t started anything at all.”
Sowunmi: Criticism of Subsidy Removal and Economic Management
Segun Sowunmi condemned the removal of the subsidy on Premium Motor Spirit (PMS) and highlighted the perceived regional bias in key government appointments.
“Both the disbursing and receiving ends of their ‘mystery index’ are being handled by men from the Southwest. How tribal is that?” he said. Sowunmi further criticized the government for its inability to stabilize the naira, which continues to devalue. “Instead of keeping money in banks, people are stashing it in private vaults. Yet, we expect monetary policy to improve?”
He argued that the policies were not addressing the pressing needs of Nigerians and raised concerns about the long-term economic implications of the administration’s strategies.
Ajibola: Defending Tinubu’s Economic Reforms
Senator Ajibola refuted claims that Tinubu’s government is failing, insisting that the administration is making the right economic decisions.
“We’re not running a socialist government, and it is unfair to assess Tinubu’s policies using socialist parameters,” Ajibola stated. He acknowledged the inflationary pressures but emphasized that the 2025 budget is aimed at addressing these challenges through massive infrastructure development.
Ajibola highlighted key achievements of Tinubu’s government, including the unification of the exchange rate and settling Nigeria’s forex debt backlog. “We have made Nigeria an investment-friendly climate. Regarding the fuel subsidy, even critics admit it is a good policy in principle. Our focus is on building an economy that discourages fraudulent practices and promotes sustainable development for Nigerians.”
The Road Ahead
The panel’s discussion underscored the complexities of managing Nigeria’s economy amid competing interests and viewpoints. While Ajibola lauded the administration’s reforms as a pathway to growth, Adegboruwa and Sowunmi called for a re-evaluation of priorities to ensure policies directly alleviate the struggles of ordinary Nigerians.
As the debate continues, one thing remains clear: the economic direction of the Tinubu administration will remain a focal point of national discourse in the months to come.
