A prominent figure in the pan-Yoruba socio-political group, Afenifere, Mr. Kole Omololu, has strongly defended President Bola Tinubu, claiming his economic reforms are outperforming former President Olusegun Obasanjo’s record.
Omololu’s statement came as a direct response to comments made by Obasanjo over the weekend, where he labeled Nigeria a “failing state” under Tinubu’s leadership.
Obasanjo’s remarks, made during a keynote address at Yale University, were filled with criticism of Tinubu’s government, accusing it of pervasive corruption, mismanagement, and incompetence.
However, Omololu swiftly dismissed these claims, calling them “misguided” and accusing the former president of indulging in his usual habit of seeking attention.
“The claims made by Obasanjo are inaccurate and nothing but grandstanding,” Omololu said in his response. “This is typical of Obasanjo, who cannot stand not being the center of attention.”
Omololu, a leading voice in Afenifere, expressed confidence in Tinubu’s leadership and the country’s recovery under his watch. He pointed to several key economic reforms that have had a positive impact on Nigeria’s financial landscape.
“The bold measures taken by Tinubu, like the removal of fuel subsidies and the unification of exchange rates, are steps that Obasanjo never had the courage to take during his time,” Omololu said. “These reforms have already started to boost the nation’s revenue and significantly reduced its debt service ratio from 92% to 64% in just 17 months.”
Omololu also praised Tinubu’s handling of Nigeria’s trade balance, which saw a record ₦14.07 trillion surplus in mid-2024. He contrasted this with Obasanjo’s time in office, claiming that Nigeria’s non-oil revenue for just one quarter under Tinubu was more than the total revenue generated during Obasanjo’s eight years as president.
“How can Obasanjo talk about mismanagement when the Nigerian Stock Exchange, under Tinubu, just reached a new record?” Omololu asked. “It crossed 104,562.06, a 39.84% increase year-to-date, making it the second-best performing exchange in Africa.”
Omololu didn’t stop there. He further questioned Obasanjo’s accusations of corruption, pointing to Transparency International’s recent report. According to the global watchdog, Nigeria’s corruption perception improved under Tinubu’s leadership, moving up five places in the rankings from 150th to 145th in 2024.
“In contrast, under Obasanjo, Nigeria was ranked as the second most corrupt nation in the world in 2002, just behind Bangladesh,” Omololu stated. “Today, Nigeria is far less corrupt, according to global assessments.”
He also reminded Nigerians of the Halliburton scandal during Obasanjo’s time, where the former president was implicated in accepting bribes. Omololu accused Obasanjo of being unfit to call anyone out on corruption, especially given the scandal and the public feud between Obasanjo and his former deputy, Atiku Abubakar.
“Obasanjo couldn’t manage his deputy, Atiku, and yet he’s calling out Tinubu for mismanagement?” Omololu said. “If you couldn’t even manage your own presidency, what moral authority do you have?”
Omololu’s remarks reflect the ongoing tension between the two prominent political figures, with Obasanjo’s criticisms of Tinubu’s presidency contrasting sharply with Omololu’s defense of the current administration.
This exchange is part of a broader debate over Nigeria’s political direction and the economic policies being implemented by President Tinubu. Despite the criticisms, Omololu remains resolute in his belief that Tinubu’s actions are paving the way for a brighter future for the country.
“We are witnessing tangible progress under Tinubu,” Omololu said. “The economy is recovering, the stock market is booming, and the country’s financial health is improving. These are not signs of a failing state but of a nation moving in the right direction.”
