• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, August 7, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Tinubu’s group salutes Obasanjo on his birthday, spanks his Zimbabwe prescription as worse than Atiku’s own

Obasanjo

The Matters Press by The Matters Press
March 11, 2024
Reading Time: 2 mins read
0
Who is lying, Obasanjo or NAN?

Obasanjo

Abuja, March 11, 2024: The Tinubu Media Support Group (TMSG) has dismissed the suggestion by former President Olusegun Obasanjo of a Zimbabwe economic model for Nigeria as worse than the Argentina prescription mooted by his former deputy, Atiku Abubakar.

RELATED POSTS

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

National Single Window initiative, a major step for efficient cross-border trade – TMSG

‎Group celebrates 45% increase in federal revenue in just one month

TMSG said in a statement signed on Monday in Abuja by its Chairman, Mr Jesutega Onokpasa, that Obasanjo’s recommendation was not well thought out and not worth considering.

“We heartily congratulate the former President of Nigeria Chief Olusegun Obasanjo on his 87th birthday, and we wish him more active years of fruitful contributions to nation building but we reject his advice for Nigeria to adopt the Zimbabwe model of economic reforms.

“We admit that unlike his former Vice President Atiku Abubakar, who recommended Argentina’s Shock Therapy, which the Abuja-based Independent Media & Policy Initiative (IMPI) aptly described as a “poison chalice”, the former President seems to be sincerely interested in pontificating a way forward for the nation in his own suggestion.

“Unfortunately, his counsel and prescription are not measurable on the proverbial scale of foresight and wisdom.

“This is because Zimbabwe’s economy has been one of the non performing economies in Africa, particularly under the leadership of late President Robert Mugabe, on account of political instability and poor monetary policy application and management as well as under his former deputy Emmerson Mnangagwa who is now President.

“Common Sense and decency demand that Nigeria should always look towards countries with record of successful economic reforms for solutions if we have to copy any model.

“A close look at the post- Mugabe economic reforms in Zimbabwe shows that, the most fundamental adjustment in that country’s macro-economy, is the outright adoption of the US Dollar, as against its former currency the ZWD, as official currency (a disincentive to Foreign Direct or Portfolio Investment).

“Although, the adoption US Dollar as the official currency increased Zimbabwe’s GDP to 5.3 percent in 2023, which made it one of the fastest growing economies in the Southern African Development Community (SADC), the World Bank has however projected a slow down of the country’s GDP to 3.5 percent in 2024.

“Today aside from US dollars, Zimbabwe has authorised the use of seven other foreign currencies (South African Rand, British Pound Sterling, Botswana Pula, Australian Dollar, Chinese Yuan, Indian Rupee, Japanese Yen) in domestic transactions until 2030.

“Worst still, the current inflation rate in Zimbabwe is at 47.6% while that of Nigeria is 29.9% which is slightly higher than the Obasanjo era rate of 28.2% (August 2005) and the unemployment rate is 7.80%, (higher than the Nigerian rate of 3rd Quarter of 2023).

“Economic reforms in Zimbabwe have not yielded any tangible or enviable result that could have warranted Nigeria, under the able, focused and promising leadership of President Bola Tinubu to look towards it as an economic role model and for this reason, Chief Olusegun Obasanjo’s advice is not acceptable,” it argued.

Tags: Obasanjo
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Chatham House stance on Nigeria’s economy, a non-biased assessment of  reforms
Economy/Technology

‎Group celebrates 45% increase in federal revenue in just one month

July 28, 2025
POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

July 25, 2025
Dangote Fertilizer in gas supply deal
Economy/Technology

IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎

July 25, 2025
Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%
Economy/Technology

‎ADC erred, APC administrations never spent $18bn on refineries-IMPI ‎

July 25, 2025
Next Post
Farmers urge Nigeria to fast-track tractor importation from Brazil

Vice President Shettima Foundation distributes tractors, inputs to farmers

Stable petrol supply excites Buhari

Petroleum marketers appoint task force coordinator, secretary

Recommended Stories

Tinubu denies manipulating NASS

Tinubu denies manipulating NASS

April 22, 2019
Zungeru Hydropower project to engage skilled professionals

Nigeria seeks support of engineers to resolve power challenges

August 17, 2022
Buhari launches eNaira, first digital currency in Africa

Federal, States, Councils share N736.782bn

November 23, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎
  • National Single Window initiative, a major step for efficient cross-border trade – TMSG
  • ‎Group celebrates 45% increase in federal revenue in just one month

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us