Senate President Godswill Akpabio has highlighted the severe economic challenges facing Nigeria, attributing them to the financial and policy decisions of the previous administration led by former President Muhammadu Buhari and former Central Bank Governor Godwin Emefiele. During a thanksgiving event reported by Channels TV, Akpabio pinpointed these policies as the root cause of the country’s significant debt and widespread poverty.
In his address, Akpabio emphasized the profound impact of the economic strategies employed by Buhari and Emefiele, suggesting that the current economic state was a direct consequence of their actions. This comes despite the involvement of key figures from the previous government, such as former Senate President Ahmad Lawan and Femi Gbajabiamila, who is now the Chief of Staff to President Bola Tinubu, in the decision-making processes that led to substantial borrowing from foreign entities.
“The economic quagmire we find ourselves in is something many might not fully grasp. It reminds me of a saying by (former) President Obama about the complexity of governance,” Akpabio remarked during the service in Koroma, Tai Local Government in Rivers State, where he was attending Senator Barinada Mpigi’s thanksgiving.
Acknowledging the heightened rates of poverty, banditry, kidnapping, and robbery since the inception of President Tinubu’s term and the 10th Assembly, Akpabio conveyed that the brief period since their office assumption was insufficient to reverse the effects of the preceding administration’s policies. He noted the dilemma faced by the government in formulating charges against Emefiele, reflecting on the challenges in addressing his policy decisions.
Amidst discussions on potential charges against Emefiele, ranging from his actions during the naira redesign to allegations of illegal possession of a firearm, Akpabio expressed the government’s ongoing deliberations on the appropriate legal course.
Akpabio called for patience from Nigerians, despite acknowledging the growing frustration over inflation and living costs. He reassured the public of the government’s commitment to addressing these long-standing issues, although his assurances were met with skepticism.
“We are determined to address these challenges; however, the damage incurred over decades cannot be rectified within a mere six months,” Akpabio concluded, appealing for continued support and understanding from the populace.