Former Ekiti State Governor, Kayode Fayemi, has praised President Bola Tinubu’s leadership but insists that good intentions alone cannot address Nigeria’s economic crisis. He stressed the need for stronger policy frameworks to tackle inflation, insecurity, and economic hardship, urging leaders to take responsibility and deliver real change.
Former Ekiti State Governor, Kayode Fayemi, has acknowledged President Bola Tinubu’s bold leadership but insists that good intentions alone are insufficient to address Nigeria’s pressing issues. Speaking on Politics Today on Channels Television, Fayemi stressed the need for a well-structured policy framework to complement Tinubu’s decisions.
He highlighted key reforms, including removing fuel subsidies and unifying foreign exchange markets, as necessary but painful measures. However, he admitted these policies have led to severe economic hardships, such as a rising cost of living and inflation. Fayemi argued that while Tinubu has taken decisive steps, effective governance requires intentionality and strategic execution beyond well-meaning decisions.
Discussing Nigeria’s governance challenges, Fayemi stated that leaders must take responsibility and apologize to citizens for failing to fulfill their promises. He acknowledged that structural impediments have hindered progress but emphasized that more must be done to improve Nigerians’ living conditions.
The removal of fuel subsidies in May 2023 triggered sharp price increases in goods and services. The Central Bank of Nigeria’s (CBN) foreign exchange unification policy also led to a sharp naira devaluation, worsening inflation. Public frustration boiled over into nationwide protests in August 2024, with demonstrators decrying economic hardship and poor governance.
Fayemi concluded that while apologies are necessary, they are not enough. He called on political leaders to act decisively, warning that failure to do so could lead to greater instability.
