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A Peoples Democratic Party (PDP) presidential hopeful, Dr. Gbenga Olawepo-Hashim, has criticised the economic performance of President Bola Ahmed Tinubu’s administration, saying Nigeria’s economy is significantly weaker than it was under previous governments and challenging top economic officials to publicly defend their record.
Olawepo-Hashim spoke during an interview on Channels Television, where he addressed the future of Nigeria’s economy and the role of young Nigerians in the global economy.
“GDP under Obasanjo was about $267 billion. Under Jonathan, it rose to over $574 billion in nominal terms. Today, under Tinubu, it has fallen to around $230 billion. This is a shocking regression for a nation with massive human and natural resources,” he said.
He argued that fiscal and monetary management under the All Progressives Congress (APC) over the past decade has failed to match Nigeria’s population growth and development needs, warning that recent economic trends point to structural weaknesses that require urgent policy reassessment.
The PDP aspirant also expressed concern over the continued depreciation of the naira, saying the exchange rate is weaker than levels supported by the country’s economic fundamentals and has worsened the cost-of-living crisis while discouraging investment.
“It is an open challenge, let their best hands, the CBN governor and the finance minister, come out for a live public debate on the economy with me,” he added.
Olawepo-Hashim maintained that improvements in oil production, which he said had risen from about 900,000 barrels per day to roughly 1.8 million barrels, along with reduced fuel importation due to increased local refining, should ordinarily strengthen the currency rather than lead to further depreciation.
He also questioned the development record often attributed to Tinubu’s tenure as governor of Lagos State, comparing it unfavourably with projects executed during the military administration of former President Ibrahim Babangida.
“IBB contributed more to Lagos development because he built the Third Mainland Bridge. If you remove the bridge today, what is left? Tinubu’s smaller tolled bridge in Lekki is nothing compared to what IBB built,” he stated.
On opposition politics, the PDP aspirant dismissed the Action Democratic Congress (ADC) as a viable alternative platform, alleging that many of its members were linked to the country’s current economic and security challenges.
“Apart from Peter Obi and probably Atiku Abubakar, many others in the ADC are mostly Buharists who are accused of being part of the current problem,” he said.
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