Tinubu Met A ‘Dead Horse But Standing’ Economy – Soludo Spills

Governor Chukwuma Soludo of Anambra State stated on Friday that the government led by President Bola Tinubu inherited what he called a “dead horse but standing” which means a severely weakened economy.

Soludo shared this observation during an interview on Channels TV, where he discussed Nigeria’s overall economic situation.

Soludo, a former Central Bank of Nigeria Governor, specifically addressed President Tinubu’s decision not to allocate 90 percent of the country’s revenue to servicing external debt.

He remarked, “From a macroeconomic perspective, this government inherited an economy that was in dire straits, and in the months ahead, we anticipate some rough patches, without a doubt.”

He expressed empathy and understanding for Tinubu’s economic team while also commending the president’s initial actions, including the removal of the long-standing petrol subsidy and efforts to address the exchange rate.

In a related development, Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, also acknowledged that President Tinubu assumed office during a challenging economic period.

Edun revealed this during a press briefing following the inaugural Federal Executive Council meeting, chaired by President Tinubu at the Presidential Villa in Abuja.

Edun noted that Tinubu’s administration encountered a troubled economy characterized by a high inflation rate of 24 percent and a significant level of youth unemployment…[CONTINUE READING HERE]>>