Former Edo State Governor and Senator representing Edo North, Adams Oshiomhole, has praised President Bola Ahmed Tinubu’s administration for dismantling Nigeria’s culture of unearned wealth and improving national security within the first two years in office.
Speaking during an interview on ARISE NEWS Monday, Oshiomhole highlighted financial reform and better coordination in security as major achievements of the Tinubu presidency.
He pointed in particular to the scrapping of the dual exchange rate regime, calling it a bold, underestimated move that has reshaped Nigeria’s economic foundation.
“Before President Bola Ahmed assumed office, it was easy for some, very few people, but they took a huge sum by just manipulating the financial system and turned out huge numbers to themselves and popularised the rest of the people. This leads to distortion in consumption, leads to distortion in values, and misleading younger people who think that what matters in Nigeria is not what you know, but who you know. I think that that policy has effectively been eliminated by the president. That’s to say this regime of dual exchange rate. People may underestimate the import of it, but I think it is huge. It is huge.”
He decried the previous culture where individuals amassed luxury and wealth without merit, citing a time when young men imported Lamborghinis by air, enabled by systemic loopholes.
“There was a time before young boys were bringing Lamborghini in with an aircraft, because they didn’t have to earn it. And from what we know now, the amount of abuse was huge.”
Oshiomhole also criticized the former disconnect between fiscal and monetary authorities, which he said fueled economic instability.
“If you have to try to understand the current exchange rate regime, you have to look at the reckless use of ways and means by the central bank, by the monetary authorities, and the fact that there was no communication between the monetary and economic sector. There was an open debate where the finance minister said, ‘I am not aware of CBN’s decision on this.’ And so people were micromanaging there a little bit. And of course, Nigeria was the worse for it.”
On national security, Oshiomhole acknowledged the continued challenges but insisted the situation has improved significantly under Tinubu’s leadership.
“I have been present in many places where, for example, people from part of the Northeast admitting to the fact that under Tinubu the coordination of security is more effective, and places that they couldn’t go before, they could go there now.”
Referencing past unrest in Borno State, he added:
“There was once upon a time where this country, part of Maiduguri, people couldn’t go there. In Nigeria, the president couldn’t visit Maiduguri. We went to Maduguri this year to say no. Maiduguri is part of Nigeria.”
Addressing critics who cite recent unrest, Oshiomhole urged Nigerians to view progress in context.
“It is not either that you win all or you lose all. The major progress is to look at where you were compared to where you are.”
He concluded by acknowledging that the administration’s efforts are ongoing.
“That is not to suggest that either the president or any Nigerian for that matter, is happy about the current level. It can be better, and it has to be better. But the point to make is that let nobody suggest that it is now worse. It is not.”
