Former Nigerian president, Olusegun Obasanjo has criticized Bola Tinubu’s disastrous economic policies which have made the nation a laughing stock among foreign investors who would rather take their monies to other African countries.
Obasanjo made this known in a statement issued by his spokesperson, Kehinde Akinyemi, on Sunday.
While evaluating Mr Tinubu’s first year in office, Mr Obasanjo stated that he had not managed the economy in a way that would inspire confidence and enhance trust in investors.
Citing Total Energy’s recent $6 billion investment in Angola’s economy, Mr Obasanjo said it was unsettling that existing investors were fleeing Nigeria for economic safety in the arms of neighbouring African countries.
“Total Energy has gone to invest $6 billion in Angola instead of Nigeria. If the truth must be stated, the present administration has not found the right way to handle the economy to engender confidence and trust for investors to start trooping in,” Mr Obasanjo said at the Paul Aje Colloquium (PAC) in Abuja.
He continued, “They (foreign investors) know us more than we know ourselves. And now they are laughing at us, not taking us seriously. We have to present ourselves in such a way that we will be taken seriously,” the former Nigerian leader dropped his hottakes. “If the existing investors are disinvesting and going out of our country, how do we persuade new investors to rush in.”
He further explained that the situation could be salvaged if only Mr Tinubu could change his style of leadership from “transactional” to “transformational.”
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