Olusegun Obasanjo, a former president of Nigeria, claimed that Muhammadu Buhari’s irresponsible spending was caused by his lack of economic knowledge.
In an exclusive interview with TheCable, Obasanjo made this comment in response to the situation of the Nigerian economy at the time.
The issue of external debt that the Tinubu administration has to deal with is one of the difficulties it faces.
At the Nigerian Bar Association’s (NBA) annual conference this year in Abuja, Tinubu proclaimed that Nigeria would no longer support an economic ideology that guaranteed the loss of 90% of its earnings to the servicing of foreign debt.
While criticizing Buhari for alleged careless spending, Obasanjo noted that he did not spend much after receiving debt relief.
“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 commander further stated that no matter whether Tinubu meets with French President Emmanuel Macron and Canadian Prime Minister Justin Trudeau, no issue will be resolved.