According to Prof. Chukwuma Soludo, the governor of Anambra State, President Bola Tinubu inherited an economy that could be compared to a “dead horse that is still standing.”
In an interview with Channels TV on Friday, Soludo claimed that the president inherited a macroeconomically sluggish economy.
“This government inherited an economy that was like a dead horse that was still standing from a macroeconomic perspective, and there is no doubt that modeling through this over the upcoming months will be bumpy.”
He also praised the president for some of his economic choices, such as ending fuel subsidies in his first 100 days in office.
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“But I am glad that at least, the first salvos by the president, by his courageous step to remove the obnoxious scam that has festered over the years called petrol subsidy and then dealing with the exchange rate.
“These are some of the legacies the government met in terms of high debt service to revenue ratio. The past administration printed over N22 trillion and poured it into the system without backing it up. Now we have to grapple with high inflation and the impact of the exchange rate.
“I am willing to give the government the benefit of the doubt; I believe the newly set-up economic team will be on this.”
He urged Nigerians to support the government in achieving its plans.
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