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Buhari spent recklessly, lacked understanding of economics, says Obasanjo

Former Nigeria president Olusegun Obasanjo has said immediate past president Muhammadu Buhari spent recklessly due to his lack of understanding of economics.

Obasanjo said this in an exclusive interview with TheCable while reacting to the current state of the economy in Nigeria.

One of the challenges the Tinubu administration is faced with is the issue of external debt inherited from past governments.

Speaking at this year’s Nigerian Bar Association (NBA) annual conference in Abuja, Tinubu declared that Nigeria will no longer sustain an economic philosophy that ensures the wastage of 90 per cent of its revenue on external debt service.

In his reaction, Obasanjo pointed out that he did not spend much when he got debt relief but called out Buhari for alleged reckless spending.

“Tinubu said the other day that it was unacceptable that he would spend 90% of revenue to service debts. I wasn’t spending 90% when I went worldwide to get debt relief.

“Do you think that anybody would give you debt relief today? Buhari was spending money recklessly. I know Buhari didn’t understand economics. I put that in my book. But that he could also be so reckless, I didn’t know.

“Who would you go to today and ask for a favor? Tinubu says he has trimmed the number of people attending the United Nations General Assembly. Is that news?”

The former military leader also added that even if Tinubu meets with the Prime Minister of Canada Justin Trudeau, and France president Emmanuel Macron it will not solve any problem.

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