Oby Ezekwesili reveals ‘only achievement’ recorded under Tinubu

Former Minister of Education, Oby Ezekwesili, has revealed that the most significant achievement of President Bola Tinubu's administration is the stabilization of the foreign exchange rate. Speaking to News Central Television, Ezekwesili emphasized that this progress, achieved by following market principles, has not yet led to improved living standards for ordinary Nigerians.

She explained that the impact of the government's economic reforms has yet to be fully felt by the people. Ezekwesili cautioned that Nigeria is not out of danger, as poverty is still prevalent and the cost of living continues to rise. She highlighted that the only tangible achievement of the Tinubu administration is maintaining macroeconomic stability, specifically controlling the volatility in the foreign exchange market by adhering to market principles.

Despite using various methodologies to reduce inflation numbers, Ezekwesili pointed out that the real concern remains the high cost of living for the average Nigerian citizen. The ex-minister also criticized the administration's handling of inflation, asserting that the sudden price increases were not inevitable and were a result of specific policy choices.

According to Ezekwesili, macroeconomic indicators cannot be analyzed in isolation from the underlying structural problems that plague Nigeria's economy. She identified low productivity as a major hurdle to economic growth, job creation, and increased household incomes. Ezekwesili concluded by pointing out that Nigeria's economic challenges stem from structural misalignments resulting from policy decisions that have failed to effectively tackle the constraints on productivity and economic opportunities.