Oby Ezekwesili: Only Macroeconomic Stability Working For Tinubu Government As Poverty, Inflation Persist
24th August, 2026 | News
Former Minister of Education, Dr Oby Ezekwesili, has criticised the economic performance of President Bola Tinubu’s administration, saying that while the government has made some progress in achieving macroeconomic stability, ordinary Nigerians are yet to feel meaningful improvements in their living conditions.
Speaking in an interview with News Central TV, Ezekwesili acknowledged that the administration had made progress in stabilising the foreign exchange market by allowing market forces to play a greater role. However, she argued that this progress had not translated into lower living costs or increased prosperity for citizens.
According to her, inflation may appear to be improving based on official figures, but the high cost of food and other essential goods continues to place significant pressure on households.
Ezekwesili described the sharp rise in inflation as largely avoidable, attributing it to what she called poor management and a combination of policy decisions.
She also stressed that economic growth without increased productivity and structural reforms would not create enough jobs, raise household incomes or make Nigeria more competitive globally.
The former minister criticised the government’s fiscal management, particularly the continued operation of multiple budget cycles at the same time. She described the situation as evidence of poor fiscal discipline and questioned the effectiveness of budget implementation.
Ezekwesili further faulted the administration for what she described as a lack of transparency in reporting its performance, arguing that Nigerians deserve clear records showing what the government has achieved and where it has fallen short.
Beyond the economy, she said Nigeria’s challenges include weak institutions, insecurity, poor public service delivery, low productivity, poverty and declining social cohesion.
She noted that strong institutions are essential for sustainable economic development because they provide the rules, stability and predictability required for businesses, citizens and governments to thrive.
Ezekwesili therefore argued that improvements in selected macroeconomic indicators should not be mistaken for overall economic prosperity, insisting that Nigeria still has significant structural and institutional challenges to overcome before Nigerians can genuinely feel the benefits of economic reforms.