Governor Caleb Mutfwang of Plateau State has stated that President Bola Ahmed Tinubu inherited a severely struggling economy. During the formal inauguration of the APC campaign council in Jos on Monday, Mutfwang described the state of the economy when Tinubu took office. He noted that the country was on the verge of collapse, unable to service its external debts. The government had resorted to printing money to manage the economy.
Mutfwang detailed the economic challenges faced by the Tinubu administration upon taking office in 2023. Nigeria could no longer service its external debts, affecting businesses operating in the country. International airlines stopped flying to Nigeria because they could not repatriate their earnings. The country's external reserve had dwindled to just over $3 billion, significantly down from over $40 billion accumulated over decades.
The governor highlighted the scarcity of petrol during the previous administration. Nigerians had to queue for days to obtain petrol, reflecting the government's inability to manage the situation effectively. Mutfwang noted that the administration of late President Muhammadu Buhari seemed clueless at a point. The current situation has improved, with fuel now available, although at a higher cost.
Mutfwang attributed some of the economic problems to the previous administration. He stated that the Buhari regime sold future crude to address immediate challenges, leaving a debt that the current administration is paying. As a result, the country cannot expect immediate solutions to its economic challenges.
Despite the challenges, Mutfwang expressed confidence in the progress made so far. He stated that by January 16, 2027, Plateau State would return President Bola Ahmed Tinubu with a resounding victory. The people of Plateau would renew their mandate for the current administration to continue its work.
Mutfwang urged party members to mobilize their communities, wards, local governments, and constituencies. He emphasized the importance of grassroots mobilization to ensure a strong showing in future elections. The governor's comments reflect the efforts of the APC to rally support ahead of upcoming elections.
The current economic situation presents both challenges and opportunities for Nigeria. The administration has made some progress, including achieving a healthy external reserve of over $50 billion. However, the country still faces significant economic hurdles. The government's ability to manage these challenges will likely influence public perception and voting patterns in future elections.
Key points
- President Bola Ahmed Tinubu inherited an economy on the brink of collapse, with Nigeria unable to service its external debts.
- The country's external reserve had dwindled to just over $3 billion, down from over $40 billion.
- Mutfwang expressed confidence that Plateau State would return Tinubu with a resounding victory by January 16, 2027.
