Shehu Gabam, the National Chairman of the Social Democratic Party (SDP), has sharply criticized the previous administration of Muhammadu Buhari for leaving Nigeria with a severely weakened economy.
In an appearance on Channels Television’s "Politics Today", Gabam attributed the nation’s current economic woes to what he described as Buhari’s mismanagement, stating that the current President, Bola Tinubu, inherited a comatose economy.
“I have said several times that Buhari’s government is the worst that Nigeria has ever had. It is the consequence that President Bola Tinubu is suffering from because he knew he inherited an economy that has collapsed,” Gabam remarked.
According to Channels Television, He further criticized the administration's rushed approach to economic reforms, particularly the removal of the fuel subsidy and the floating of the naira, which have significantly increased the cost of living.
Since assuming office, Tinubu’s administration has faced skyrocketing inflation, which reached an alarming 33.69% in April 2024, according to the National Bureau of Statistics (NBS)’s Consumer Price Index (CPI).
Gabam argued that such drastic measures should have been implemented more gradually, to mitigate their harsh impact on the population. “His responsibility is to find the softer ways to revive the economy, not the harsh way because you cannot revive it in a day. When someone faints, it requires a lot of process to bring him back to life,” he said, emphasizing that Tinubu inherited an economy “in the ICU.”
Despite these criticisms, Gabam offered constructive advice to the Tinubu administration.
He advocated for a strategic approach to economic recovery, highlighting the importance of leveraging historical economic management records and templates available in the Ministry of Finance. Gabam stressed the need for innovation and modernization tailored to the current economic landscape.
“What you need is strategic thinkers, strategic applications, and strategic implementation. It has nothing to do with rush hour,” Gabam advised.
He suggested that the government revisit and adapt successful economic management practices from both past civilian and military regimes, enhancing them with contemporary innovations to effectively drive economic revival.