Bola Tinubu’s terrible economic policies have turned Nigeria into a laughingstock among foreign investors who would prefer to move their money to other African countries. Former Nigerian President Olusegun Obasanjo has criticised Tinubu for this.
This was disclosed by Obasanjo in a statement released on Sunday by Kehinde Akinyemi, his spokesperson.
According to Mr. Obasanjo, while assessing Mr. Tinubu’s first year in power, he had not handled the economy in a way that would boost investor confidence.
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Referring to the $6 billion that Total Energy recently invested in the economy of Angola, Mr. Obasanjo expressed disquiet over the fact that current investors were escaping Nigeria in search of financial security in the arms of neighbouring African nations.
“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.”
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He went on to say that if Mr. Tinubu could adopt a more “transformational” leadership style instead of a “transactional” one, the situation might still be saved.
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