Be patient with Tinubu, Buhari handed terrible economy to him – Oshiomhole
. Says FG using 96% revenue to service debts
By Stephen Ukandu, Umuahia
Former Edo State Government, and the
incumbent Senator representing the Edo North Senatorial District, Adams Oshiomhole, has pleaded with Nigerians to the patient with President Bola Ahmed Tinubu, claiming that he inherited a terrible economy from his predecessor, President Muhammadu Buhari.
Both Buhari and Tinubu are of the ruling All Progressive Congress, APC, which Oshiomhole at a time, presided over as the National Chairman.
Oshiomhole who spoke after a private visit to the Vice President, Kashim Shettima, at the State House, said Tinubu needed to take some tough measures to regig the failing Nigerian economy.
The former Edo Governor decried a situation where the Federal Government spends 96 per cent of its revenue on debt management.
“The government inherited a terrible economic situation, everybody knows it. The government inherited an economy in which the total national revenue was barely enough to service our debt burden. Spending 96 per cent; which is to say every one hundred naira Nigeria earns, ninety-six kobo is to pay debt”.
Senator Oshiomhole, however, expressed confidence in the ability of Tinubu to wriggle Nigeria out of the woods.
“This President recognizes that the effect of the withdrawal is already here, people are already going through some level of discomfort and therefore there has to be an immediate solution to it.
“Now that immediate solution is what we discussed and the fact that we are meeting on Tuesday again shows that clearly, we realize that this is not one of those things you want to buy time because it has a real negative impact, on particularly, the most vulnerable group.
“But we have a solution to it because you are going to make savings, so take from that savings or even if it is borrowing.
“So, whatever it is, you can leverage some revenue and improve wages to cushion the cost of living, I think it is legitimate, I think it is doable”.
