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•Says IBB contributed more to Lagos’ development
A Peoples Democratic Party (PDP) presidential hopeful, Dr. Gbenga Hashim, has criticised the economic performance of President Bola Tinubu, declaring that Nigeria’s economy is weaker today than it was under previous administrations.
Hashim made the remarks on Wednesday during a live interview on Channels Television’s Politics Today, anchored by Seun Okinbaloye, where he discussed the future of Nigeria’s economy and the role of young Nigerians in the global economic space.
Drawing on official economic data, the PDP aspirant argued that Nigeria’s fiscal and monetary policies under the All Progressives Congress (APC) over the past decade have failed to deliver growth commensurate with the country’s population and development needs.
“GDP under Obasanjo was about $267 billion. Under Jonathan, it rose to over $574 billion in nominal terms. Today, under Tinubu, it has fallen to around $230 billion. This is a shocking regression for a nation with massive human and natural resources,” Hashim said.
He expressed particular concern over the continued devaluation of the naira, insisting that the current exchange rate does not reflect Nigeria’s economic fundamentals.
According to him, the weak currency has worsened inflation, increased the cost of living and undermined investor confidence.
Hashim, a global businessman and economic analyst, also questioned President Tinubu’s much-touted developmental record in Lagos State.
Comparing Tinubu’s legacy with that of former military president, General Ibrahim Babangida, he argued that Babangida’s administration contributed more significantly to Lagos infrastructure.
“IBB contributed more to Lagos development because he built the Third Mainland Bridge. If you remove the bridge today, what is left? Tinubu’s smaller tolled bridge in Lekki is nothing compared to what IBB built,” he stated.
The PDP chieftain further dismissed the Action Democratic Congress (ADC) as a credible political alternative, alleging that many of its members were part of the political establishment responsible for Nigeria’s current economic and security challenges.
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“Apart from Peter Obi and probably Atiku Abubakar, many others in the ADC are mostly Buharists who are accused of being part of the current problem,” he said.
In a direct challenge to the Tinubu administration, he called on key members of the government’s economic management team to defend their policies in a public forum.
He specifically invited the Governor of the Central Bank of Nigeria and the Minister of Finance to engage him in a live televised debate on the state of the economy.
“It is an open challenge. Let their best hands, the CBN governor and the finance minister, come out for a live public debate on the economy with me,” he declared.
He maintained that the Naira is currently over-devalued and argued that recent improvements in Nigeria’s oil sector should ordinarily have strengthened the currency.
He noted that crude oil production has reportedly increased from about 900,000 barrels per day to approximately 1.8 million barrels per day, while local refining capacity has expanded, reducing dependence on fuel imports.
“With higher oil output and reduced fuel importation, the Naira should be stronger, not weaker than it was under the Buhari administration,” he added.
The PDP aspirant insisted that Nigerians deserve clearer explanations on issues such as GDP contraction, rising inflation, currency instability and the overall direction of economic policy.
He urged the Federal Government to adopt more transparent and growth-driven economic strategies capable of restoring investor confidence and improving the living standards of ordinary Nigerians.
