{
  "id": 16137124,
  "title": "You impoverished Nigerians, Obasanjo attacks Tinubu’s reforms",
  "url": "https://urgent.news/2026/10/23/you-impoverished-nigerians-obasanjo-attacks-tinubus-reforms",
  "topic": "world",
  "section": "World",
  "published": "2026-10-23T01:56:51.000Z",
  "source": {
    "name": "Punch",
    "slug": "punch",
    "url": "https://punchng.com/you-impoverished-nigerians-obasanjo-attacks-tinubus-reforms/"
  },
  "original_language": "en",
  "account": "Former Nigerian President Olusegun Obasanjo has vehemently criticized President Bola Tinubu for his economic policies, claiming they have turned the nation into the \"poverty capital of the world.\" During the Financial Times Africa Summit 2026 in London, Obasanjo accused the Tinubu administration of devaluing the naira by 300 percent overnight, a move he said had impoverished every Nigerian. Formerly, the naira was exchanged at N500 to the dollar, but by October 19, it had plummeted to N1,500 per dollar. Obasanjo argued that such a drastic devaluation could not be beneficial for the country, stating, \"You cannot say to me that that is good for Nigeria.\" He dismissed the notion that Tinubu needed more time to complete his reforms, insisting that the economy had not improved under his leadership. Obasanjo also dismissed the petrol subsidy removal as a solution, pointing out that the move affected everyone and everything, but the corruption embedded in the subsidy system should be the primary focus. The Minister of Finance, Taiwo Oyedele, claimed that the subsidy removal saved the economy N15.8 trillion between June 2023 and December 2025. However, the current inflation rate remains high at 14.63 percent, with food inflation reaching 19.59 percent, while real GDP growth stands at 4.43 percent in the second quarter.",
  "summary": "Former President Olusegun Obasanjo has accused President Bola Tinubu’s economic reforms of impoverishing Nigerians by 300 per cent through naira devaluatio Read More: https://punchng.com/you-impoverished-nigerians-obasanjo-attacks-tinubus-reforms/",
  "key_points": [
    "Former Nigerian President Obasanjo criticizes Tinubu's economic policies",
    "Tinubu administration devalued naira by 300%, impoverishing Nigerians",
    "Petrol subsidy removal affects everyone, corruption should be primary focus"
  ],
  "editors_take": "Obasanjo’s harsh critique highlights a growing rift between government claims of fiscal savings and the immediate reality of extreme currency devaluation and rising food costs for the Nigerian population.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Daily Post Nigeria",
        "title": "2027: Atiku, Melaye, Fayose warn Nigerians against Tinubu’s re-election",
        "url": "https://urgent.news/2026/10/23/2027-atiku-melaye-fayose-warn-nigerians-against-tinubus-re-election",
        "published": "2026-10-23T06:08:06.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}