Amidst Nigeria’s economic crisis, First Lady Oluremi Tinubu vigorously defended her husband’s administration against escalating criticism surrounding the country’s economic downturn.
During her visit to the Palace of Ooni of Ife, where she launched new facilities at Obafemi Awolowo University,
Mrs. Tinubu asserted, “We are not the cause of the current situation; we are working to resolve it and secure the future.”
Her defense comes amidst Nigeria’s historic inflation rate of 32.15%, with food inflation reaching 37.52% in August 2024, according to the National Bureau of Statistics (NBS). Furthermore, the naira’s value has plummeted, trading at approximately ₦1,620.50 to the dollar in the official market.
The economic turbulence intensified following President Bola Tinubu’ move to eliminate fuel subsidies in May 2023, which saw petrol prices surge from ₦198 to over ₦1,030 per liter.
This policy shift, while aimed at long-term economic sustainability, has triggered a domino effect on transportation costs and general living expenses.
Mrs. Tinubu emphasized the administration’s commitment to reform, stating, “Those who attempted removing the subsidy before could not see it through. But with your prayers in the next two years, we will build a nation for the future.”
The First Lady, who donated ₦1 billion to her alma mater during the visit, sought to reassure citizens of the administration’s good intentions. “We are not greedy… we cannot disappoint Nigeria, and with the help of God, we are getting to the promised land in no distant time,” she said.
Ooni of Ife, Oba Adeyeye Ogunwusi, praised Mrs. Tinubu’s track record of public service, particularly highlighting her New Era Initiative from her tenure as Lagos First Lady. “This has been a milestone and major inspiration for younger ones to aspire and prosper,” the traditional ruler remarked.
