In a recent interview with Channels Television, Dele Momodu, the Nigerian journalist and publisher of Ovation International magazine, critically analyzed President Tinubu’s administration and its handling of economic policies, expressing deep concerns about the current state of Nigeria.
Momodu began by addressing the difference between theoretical economics and practical economic realities. He clarified, “When you talk about economics and the economy, there are two different things. Economics is the theoretical aspect of the economy. The economy is the practical side of economics.”
He emphasized that regardless of the sophisticated theories from institutions like the IMF and World Bank, they are meaningless if they do not positively impact the lives of Nigerians. “No matter the high saluting theories you bring from IMF, World Bank, as long as it does not reflect on the lives of Nigerians, you are just blowing grammar,” he remarked.
Momodu drew parallels between current economic strategies and historical precedents, particularly criticizing the role of the IMF. He recalled, “During the Babangida era, I remember one of the first stories I wrote for African Concord magazine, they talked about SAP, it’s the magic word sob, is the only thing that will lead us to heaven and Paradise. Where did SAP lead Nigeria? Maybe you will remember the SAP riot of 1989.”
He used this historical context to caution against repeating past mistakes, noting, “I know that what these people are saying, Oh, just relax.”
Momodu was particularly critical of President Tinubu’s initial actions upon assuming office. “Why would a leader be sworn in on May 29, 2023, and the first thing he did was to give bad news to the people?” he questioned.
He argued that instead of inspiring renewed hope, the President’s immediate policies had a detrimental effect. “If you rush a patient to a doctor, what is the first thing the doctor will do? The doctor will first stabilize the patient,” Momodu explained, using a metaphor to illustrate his point.
He further elaborated on this metaphor, stating, “So, if they rush a person to a doctor, and then the doctor says oh, this guy cannot survive, and he said let’s just give him injection so that he can die once and for all, that’s what happened on May 29, 2003. The doctor gave an injection which killed Nigeria instantly.”
Momodu criticized the hasty decisions made by the administration, suggesting they lacked careful consideration and understanding of the broader impacts. “Just one injection, Nigeria went into coma,” he concluded, emphasizing the severity of the situation.
Momodu also touched on the cultural and political dynamics at play. He noted that there is a perception of invincibility around certain political figures, which can lead to reckless decisions.
“But because our man was coded that you are Bola Tinubu, you are made to believe that you can do anything and nothing will happen; show courage, show muscle, that’s what led us to this crisis,” he observed.
This mindset, according to Momodu, has exacerbated the current economic and social challenges facing Nigeria.
In summary, Dele Momodu’s interview provided a critical assessment of President Tinubu’s administration, highlighting the disconnect between theoretical economic policies and their real-world impacts. His historical insights and metaphors underscored the urgent need for more thoughtful and stabilizing leadership to navigate Nigeria through its current crises….Viêw_ More
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