In a bold defense of President Bola Tinubu’s administration, former presidential aide Doyin Okupe has urged Nigerians to exercise patience and understanding, emphasizing that the President’s economic reforms are designed to rescue a failing economy. Speaking during an interview with Arise TV, Okupe argued that the dire state of Nigeria’s economy necessitated the drastic measures implemented by Tinubu.
Okupe highlighted the grim economic realities Tinubu inherited, including a situation where 98% of the nation’s revenue was being consumed by debt servicing. He contended that such a precarious fiscal state required immediate and decisive action to prevent total economic collapse.
“It is unfair and almost wicked to judge President Tinubu now,” Okupe asserted, noting that the administration has been in office for less than 18 months. According to him, without the reforms, the naira could have spiraled to a shocking exchange rate of ₦17,000 per dollar, and the price of fuel could have reached ₦4,000 per liter.
“I heard people complain that the dollar is ₦1,700; it could have been worse, it could have been ₦17,000. That fuel is ₦1,000; it could have been worse; it could have been ₦3,000 or ₦4,000 per liter if these reforms had not been in place,” Okupe explained. He credited the reforms for preventing what he described as “escalating hyper-inflation” that could have crippled the nation.
Okupe accused the previous administration of concealing the true state of the economy by printing up to ₦30 trillion, an act he described as unsustainable and deceptive. He stated that Tinubu’s reforms are designed to reverse the damage caused by years of economic mismanagement and set Nigeria on a path to recovery.
“Bola Tinubu has come with very serious reforms that will take the country away from the situation in which it had been undergoing for the past eight to ten years,” Okupe concluded.
While Okupe’s comments highlight the severity of Nigeria’s economic challenges, they have also sparked debate about the impact of Tinubu’s policies on ordinary Nigerians. The former Labour Party chieftain’s defense of the President suggests that the administration is focused on long-term solutions, though the immediate effects of the reforms remain a point of contention for many citizens.
As the administration continues to implement its recovery agenda, Nigerians will be watching closely to see if these measures ultimately yield the promised results.