Former presidential candidate of the Social Democratic Party, SDP, Prince Adewole Adebayo has described President Bola Tinubu’s economic team as uncoordinated and suffering economic illiteracy.
He tackled the Minister of Finance for saying that the economy was doing good amidst heavy external borrowing.
Adebayo said in an interview that the President Bola Tinubu government is suffering from economic illiteracy.
He said, “I always wish there will be a good day for Nigeria, but it is not a good day when the finance minister believes the day he goes borrowing in London is a good day.
“How can it be a good day when Nigeria goes overseas to give investments in the capital market from the excess production that we have? No minister that we had in the past would say the day we went borrowing was a good day.
When told that even advanced countries like America also borrow, he had this to say:
“America borrows from within. You borrow from your own currency. I am not quarreling with them borrowing from the currency they issued. When you are borrowing Euro bonds, borrowing currency from other people in other capitals of the world, it’s a sign of crisis.
“Yes, you can do it but you don’t say it’s a good day for you. If you are anaemic and your neighbour comes to donate blood to you, you should be grateful but you don’t say that’s the best day of your life, because you are not supposed to be anaemic in the first place.
“They need to run the economy in such a way that we can generate capital for ourselves. Fundamentally, I think they are uncoordinated. Even though he is supposed to be the coordinator of the economy, he is not coordinated.
Peoplesmind
