The Director General of the Budget Office of the Federation, Tanimu Yakubu, has defended the foreign engagement strategy of President Bola Tinubu, describing recent criticisms by the former Anambra State Governor, Peter Obi, as a “populist simplification” of Nigeria’s economic realities.
Mr Yakubu, in an article titled “Foreign Engagements and the Dangers of Populist Simplification: Peter Obi’s Ignorance,” argued that Mr Obi failed to appreciate the complexities involved in rebuilding investor confidence and restoring economic stability in a country emerging from fiscal and monetary challenges.
On 16 May, Mr Obi criticised the value of recent foreign state visits by Nigerian leaders, arguing that such engagements must translate into measurable economic benefits for citizens, rather than ceremonial visits.
“State visits by leaders are not tourism, and diplomacy is not a fashion parade,” Mr Obi said.
According to Mr Yakubu, the Tinubu-led administration inherited an economy burdened by structural weaknesses, including fuel subsidy costs, exchange-rate distortions, mounting debt-service obligations, dwindling investor confidence, and heavy reliance on the Central Bank of Nigeria (CBN) financing to sustain government operations.
