According to Reno Omokri, a former presidential advisor, former President Muhammadu Buhari was responsible for the economic collapse of Nigeria throughout his eight years in power.
By May 2023, the last month of Buhari’s presidency, the national debt of Nigeria had increased from 18% to 35% of GDP, a nearly 100% increase.
The politician, who was born in Daura, left inflation at 22.4%.
President Bola Tinubu’s administration has maintained economic hardship, exacerbated by the withdrawal of fuel subsidies and an unstable exchange rate.
Furthermore, Omokri thinks Buhari ought to be held responsible since, in his view, he was actually running a criminal operation rather than a government.
Omokri wrote, “Buhari Destroyed The Economy” in Monday morning’s X post. Tinubu Is Making An Effort to Repair It. That’s the truth, plain and simple. Our oil sales have also been rendered meaningless as Buhari has already sold them and pocketed the proceeds.
This is due to the fact that under his leadership, we accrued more debt than any other administration put together, to the point where even China cut off funding to the United States.
A monthly subsidy of $1.5 billion was being doled out to the exchange rate. At that time, the value of the Naira was not what you saw.
Our foreign reserve status was misrepresented by Buhari. Purchases and loans had been backed by such monies. To cut a long story short, President Jonathan would still be in jail today if Dr. Jonathan had only done half of what Buhari accomplished. Buhari was not a government official. He oversaw a criminal organization that transformed his nephew, who had previously sold recharge cards, into a multi-billionaire who became wealthy overnight via private jet travel.
As an opposition group, we are aware of this. But some of us are using it for political gain since they were unsuccessful in the 2023 election; according to them, Nigeria would have to fall apart if they hadn’t won.