Obasanjo Criticises Tinubu’s Economic Policies, Cites Naira Devaluation

Former President Olusegun Obasanjo has criticised the Tinubu administration’s economic policies, arguing that the sharp depreciation of the naira has deepened hardship for Nigerians. Speaking at the Financial Times Africa Summit 2026 in London, Obasanjo said the exchange rate moved from about ₦500 to the dollar to roughly ₦1,500, reducing the purchasing power of households and businesses. He rejected calls for more time for the reforms to take effect, saying he had not seen evidence of economic improvement. Obasanjo also said petrol pricing affects every sector, while arguing that corruption previously embedded in subsidy payments should have been addressed.

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