Kelvin Bowoto
Prince Adewole Adebayo, the Social Democratic Party’s (SDP) presidential candidate for 2023, endorsed former Vice President Atiku Abubakar’s advice that President Bola Tinubu adopt Argentina’s economic model for the Nigerian economy. Adebayo stated that Argentina had one of the greatest inflation rates in the world, at 512%.
Atiku recently recommended that Tinubu learn from Argentina’s President, Javier Milei, who successfully turned around his country’s economy. However, the SDP candidate stated that Atiku’s viewpoint was well-intentioned but misguided. Adebayo responded, “It’s an error. We may not reach the same level of despair as Argentina, but we are on our way there. They have had a month of 512% inflation. I’m not sure economists grasp the 512% temperature. They have lost almost all of their wealth. The guy there today comes from the Austrian school of thought.
“Argentines are moaning every day since they have had the worst economic performance since 1980. I’m not saying we shouldn’t criticize President Tinubu’s APC government for poor performance, but stating that someone complaining about too much sun should be put in the oven isn’t the way to tackle the problem,” he said. Adebayo claimed that if Atiku and Peter Obi, the Labour Party’s presidential candidate in 2023, were elected, they would have done nothing different from Tinubu because they campaigned on the same policies.
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He stated, “These policies are not effective. Unfortunately, Nigerians approved these measures. They voted for these measures because they either did not pay attention or did not grasp their implications. When you decide to vote for a government that says it will remove subsidies on day one, as President Tinubu, Vice President Atiku Abubakar, and Governor Peter Obi all said, we tell them not to listen, but people believe they have experience and are more realistic than us.
“So, any of them who established the administration and implemented any of these policies would have had, at the very least, what we are currently seeing, if not worse. These policies are bad, not because of the parties that announced them, but because they are structurally unsuitable for us.” Regarding Tinubu’s ability to fix Nigeria, Adebayo stated that anyone elected who is determined to work may do so, even President Tinubu.
“I believe that anyone who is motivated to fix Nigeria, who wants to listen to Nigerians, carry everyone along, and hunt for the finest talent, rather than simply political parties, would succeed. I would have preferred that Nigerians vote for me, which is why I did not endorse him.
“I believe I could have done better than him. However, anyone who is assigned to the position and is motivated to exploit all of Nigeria’s resources can succeed. Of course, the president is a Nigerian, well-educated, and intellectual, but he pursues incorrect policies. He needs to open his mind, get ideas from others, and incorporate them into his own,” he stated.
Techrectory with Agency Report.
