Abuja, Nigeria –President Bola Tinubu revealed he inherited a bankrupt nation after Muhammadu Buhari’s eight-year rule.
Now addressing supporters in Abuja’s State House on Thursday, he defended contentious economic reforms as vital to avert financial ruin.
Asserting Nigeria “would have collapsed” without intervention, Tinubu dismissed criticism amid surging inflation.
Meanwhile, soaring prices of food and utilities intensify public anger nationwide.
Notably, analysts blame his fuel subsidy removal for worsening the crisis.
Despite backlash, Tinubu insists austerity measures rescued the economy from total collapse under prior mismanagement.
The removal, while intended to address fiscal imbalances, has led to widespread discontent among citizens grappling with higher living costs.
Previously, Muhammadu Buhari, Tinubu’s APC predecessor, led Nigeria from 2015 until 2023.
Before leaving office, he asserted his administration boosted socio-economic conditions and established foundations for future progress.
However, Tinubu’s remarks suggest a starkly different assessment of the state of the nation upon Buhari’s departure.
Despite Tinubu’s critique, Buhari has reaffirmed his loyalty to both Tinubu and the APC.
In a statement released Thursday, Buhari dismissed speculation that he was considering joining an emerging coalition to challenge Tinubu in the 2027 presidential election.
The former president, who now resides in Kaduna, has not publicly responded to Tinubu’s comments. A spokesperson for Buhari declined to comment when contacted on Thursday night.
The State House sought to reassure Nigerians in a press release, stating that economic conditions were showing signs of improvement.
“Inflation has begun to ease in recent months,” the statement noted, emphasizing the administration’s commitment to stabilizing the economy and alleviating financial pressures on citizens.
Tinubu’s remarks have sparked debate over the legacy of Buhari’s administration and the economic challenges facing Nigeria.
As the country navigates this period of transition, many will be closely watching how Tinubu’s policies impact both short-term recovery and long-term stability.