Former Edo State Governor and current senator, Adams Oshiomhole, has thrown his weight behind President Bola Tinubu’s economic reforms, stating that the current hardships being experienced by Nigerians are part of a necessary recovery process.
Speaking during an interview on Channels Television’s Politics Today on Tuesday, Oshiomhole acknowledged public frustration over the rising cost of living and widespread business closures following the removal of fuel subsidies in 2023. However, he urged citizens to remain patient and trust the government’s direction.
“There is no question that there are huge challenges,” he said. “But if you look at the balance sheet this president inherited — massive liabilities from reckless fiscal practices — you’d understand why these reforms were unavoidable.”
Describing the reform process as similar to a surgical operation, Oshiomhole said some pain is inevitable but progress is being made.
“The surgeon has gone in. Yes, there is pain, but the good news is that the patient is healing. It may not be as fast as we’d like, but there’s no doubt recovery is happening,” he explained.
He defended the exchange rate unification policy, calling it painful yet essential to avoid economic disaster.
“The rising cost of living was expected. But if that wasn’t done, Nigeria was heading for a Zimbabwe-style collapse,” he warned.
No Quick Fixes, Just Realistic Reforms
Oshiomhole emphasized that governance is not about instant solutions but about implementing sustainable policies. He dismissed the notion of rapid economic fixes, noting that the Tinubu administration inherited a deeply mismanaged economy.
“There’s no magic to governance,” he stated. “Anyone who understands the economic mess we inherited won’t expect miracles in 24 months. The worst is behind us, and improvements are on the horizon.”
Drawing on his experience as a state governor, he said every leader needs time to evaluate inherited issues and prioritize effectively.
“As a governor, I needed time to understand what I was dealing with and decide what to tackle first,” he recalled.
While acknowledging current hardship, he struck a cautiously optimistic tone.
“As a Nigerian living among fellow citizens, I know things are tough. But I also see signs that things are getting better,” he said.
Tinubu Would Still Win, Says Oshiomhole
Despite the economic strain, Oshiomhole believes Tinubu remains politically strong.
“If a presidential election were held today, Tinubu would still win — because he’s made the hard but necessary choices to reposition Nigeria,” he said.
He also praised the president’s action in dismantling what he called an exploitative foreign exchange system, which previously favored a select few.
“The President eliminated an unjust FX regime where only the privileged had access to subsidized rates. Now, everyone gets the same rate. That took courage,” Oshiomhole noted.
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