Former President Olusegun Obasanjo has pulled no punches in his latest attack on the Tinubu administration, accusing the federal government of driving Nigerians deeper into poverty through its controversial economic policies.
Baba Olusegun Obasanjo has entered the chat — and e no come with calm words o.
The former President and Owu born statesman has launched a blistering attack on President Bola Ahmed Tinubu’s administration, accusing it of being directly responsible for the crushing poverty that millions of Nigerians are experiencing today. According to OBJ, the government’s decision to devalue the naira has effectively made every Nigerian 300 per cent poorer — a staggering indictment from a man who himself sat in Aso Rock for eight years.
The Poverty Capital Tag — A Shameful Crown No One Wants
Nigeria’s unfortunate title as the poverty capital of the world has long been a source of national embarrassment. With millions of our people living on less than $2 a day, the reality on the ground is something every Nigerian — from Lagos Island to Maiduguri — feels in their pocket, on their plate, and in their daily struggle. Obasanjo’s statement suggests that rather than lifting Nigerians out of this dire situation, current policies have only tightened the noose.
The naira devaluation, which followed the removal of fuel subsidies shortly after Tinubu declared “subsidy is gone” at his inauguration in May 2023, has had a devastating ripple effect across the economy. The exchange rate, which hovered around ₦460 to the dollar before the policy shift, has since spiralled to alarming levels — hitting well above ₦1,500 to the dollar at various points. The result? The price of everything from garri to petrol, from school fees to hospital bills, has gone through the roof.
OBJ Speaks — But Nigerians Are Asking the Hard Questions
While many Nigerians are nodding in agreement with Obasanjo’s assessment, others are raising their eyebrows. After all, this is the same man whose own tenure was not without economic controversy. Social media has been buzzing, with Nigerians on X (formerly Twitter) asking pointedly:
> “OBJ, where were you when the foundation for this mess was being laid?”
It is a fair question. But politics and accountability aside, the substance of his accusation is hard to dismiss. The cost of living crisis in Nigeria right now is very real. Market women in Onitsha will tell you. Danfo drivers in Lagos will tell you. Civil servants in Abuja whose salaries have not kept pace with inflation will definitely tell you.
What Does This Mean for Ordinary Nigerians?
For the average Naija person trying to survive in 2024 and beyond, the political back-and-forth between former and current leaders can feel like a distraction. The real question is: when will things get better?
Economists have noted that while the unification of the exchange rate was a necessary structural reform long overdue, the government’s failure to implement adequate social cushions has left ordinary citizens bearing the full brunt of the pain. Without targeted palliatives, wage reviews, and real investment in local production, devaluation alone risks doing more harm than good.
The Bigger Picture
Obasanjo’s statement, whether politically motivated or genuinely patriotic, shines a spotlight on a conversation Nigeria desperately needs to have — openly and honestly. No administration should be comfortable with its citizens being the poorest in the world. That is not a statistic. That is millions of human beings going to bed hungry, children dropping out of school, and families making impossible choices every single day.
As Nigeria continues to navigate these turbulent economic waters, one thing is clear: the pressure on the Tinubu administration to deliver real, tangible relief to Nigerians is mounting — and voices like Obasanjo’s, love him or hate him, are only adding to that pressure.
What do you think? Is Obasanjo right to call out the Tinubu administration, or is this just politics as usual in Nigeria? Drop your thoughts in the comments below.
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