Dr. Gbenga Hashim, an aspirant for the presidency under the Peoples Democratic Party (PDP), has pointed to a decline in Nigeria's economic performance under the leadership of President Bola Ahmed Tinubu. He asserted that the country's economic condition is poorer today than during the tenures of former Presidents Olusegun Obasanjo and Goodluck Jonathan.
Hashim made these comments during a Wednesday interview on Channels Television's Politics Today.
He referenced official statistics to support his claim that the fiscal and monetary strategies employed by the All Progressives Congress (APC) over the last ten years have not kept up with the demands generated by Nigeria's population growth and development requirements.
"The GDP was approximately $267 billion during Obasanjo's administration. Under Jonathan, it surged to over $574 billion in nominal terms. Presently, under Tinubu, it has dropped to around $230 billion, marking a distressing downturn for a country rich in both human and natural resources," he stated.
Additionally, Hashim expressed concerns over the depreciation of the naira, noting that the current exchange rate is considerably less favorable compared to what is warranted by Nigeria's economic fundamentals. He indicated that this has escalated living costs and diminished investor confidence.
Hashim, who is also a businessman, questioned Tinubu's legacy in terms of development in Lagos State, comparing it with that of former military leader Ibrahim Babangida.
He credited Babangida for the construction of the Third Mainland Bridge, calling it a monumental infrastructural project with lasting significance.
"Babangida has made greater contributions to Lagos development, thanks to the Third Mainland Bridge. If you remove the bridge today, what remains? Tinubu’s smaller tolled bridge in Lekki pales in comparison to Babangida's accomplishment," Hashim commented.
Furthermore, Hashim dismissed the Action Democratic Congress (ADC) as a viable political alternative, suggesting that many of its members are linked to the current economic and security dilemmas faced by Nigeria.
"Aside from Peter Obi and perhaps Atiku Abubakar, most members of ADC are essentially supporters of Buhari's policies, blamed for the prevailing issues," he noted.
Hashim challenged members of Tinubu's economic advisory team, including the Governor of the Central Bank of Nigeria and the Finance Minister, to publicly defend their economic strategies in a live debate.
He contended that Nigerians deserve straightforward answers regarding the ongoing GDP contraction, currency fluctuations, rising inflation, and the government’s broader economic plan.
"I extend this open challenge: let the best representatives from the Central Bank and the finance ministry engage in a public debate on the economy with me," he concluded.
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