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Former Minister of Education, Oby Ezekwesili, has admitted that President Bola Tinubu’s government has achieved some headway in stabilizing the foreign exchange market by following standard market forces.
During a discussion on News Central Television, Ezekwesili pointed out that this single positive step has unfortunately failed to improve the day-to-day living standards of ordinary citizens.
She emphasized that the general populace is yet to experience the tangible benefits of the administration’s broader financial overhaul.
In her view, the country remains in a difficult position as severe poverty persists and the cost of living continues its upward trend.
“The only thing that, as I said at the beginning, we can give to them is that they are getting a handle on macroeconomic stability. So, for example, the volatility we have with foreign exchange rate is quieter because they are abiding by market principles for foreign exchange policy.
“Then you look at inflation. Inflation, even though they use the methodology to crash it in terms of the numbers, but the real thing is that the cost of living for the average citizen is still pretty high,” she stated.
The former minister also criticized how the administration has managed inflation, arguing that the dramatic surge in commodity prices could have been avoided through better policy coordination.
She stressed that broader economic indicators must be analyzed alongside the core structural hurdles currently burdening the Nigerian economy.
Furthermore, she pointed to sluggish productivity levels as a primary barrier holding back sustainable economic expansion, job creation, and household income growth.
Ezekwesili concluded by linking the nation’s ongoing financial struggles to foundational policy misalignments that have neglected to unlock productivity and genuine economic opportunities.
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