Former President Olusegun Obasanjo has said some of the major economic reforms introduced by President Bola Ahmed Tinubu were necessary policies but lacked adequate preparation, study, and planning before implementation..
Obasanjo made the remarks during an exclusive interview on NoireTV aired on Wednesday, May 13, 2026, while responding to questions about what advice he would offer the current administration concerning the Nigerian youth and economic management.
During the interview, the former president was asked what recommendations he would make if President Tinubu sought his opinion on measures that could benefit young Nigerians and improve the country’s economic condition.
In response, Obasanjo acknowledged that some policies introduced by the current administration were desirable but argued that they required more comprehensive analysis before implementation. “I would say, first of all, the measures that have been taken, two particularly, which are internal measures, are measures that are desirable, but not enough thought,” he said.
He specifically referenced the removal of fuel subsidy, describing it as a policy that eventually had to be implemented but one that should have followed detailed examination and preparation. “A measure of removing subsidy. Subsidy has to go, but what study have you done? Before you wake up and just say, no more subsidy,” Obasanjo stated.
When asked how he would have approached the policy differently, the former president explained that he would first establish a committee to conduct detailed studies on the subsidy regime and its implications before taking action. “I would set up a committee first and say, well, look, how much is subsidy? What is the subsidy? Where does it come from? How does it come from? And then I have a study,” he said.
Obasanjo added that such studies would help government determine the likely economic and social consequences of subsidy removal, including how to address potential hardship for citizens. “Now, if I stop subsidy, what do we gain? What do we get? And how do we spend what we get to alleviate some of the hardship that may come? Or will any hardship come? Will any hardship not come?” he asked.
According to him, public communication and transparency are important in implementing major economic reforms, especially when citizens are expected to bear the consequences. “I would do such exercise that I would say, look, so that when I come out and say, well, we remove subsidy, I will also say what had gone into it, how it has gone, and what effect it will have,” he stated.
The former president also referenced Nigeria’s debt relief process during his administration, explaining how the funds saved were tied to development programmes and monitored through structured oversight. “But for instance, I went around the world. I got debt relief. And I said, look, what we got in debt relief would be used to carry out sustainable development,” he said.
Obasanjo further noted that policy decisions such as harmonising exchange rates also require detailed planning and analysis before implementation. “So that or even bringing the parallel and the official rate of exchange together, it came a good study. What will happen? There are policies that have to be carried out,” he stated.
