Former House of Representatives Speaker, Yakubu Yakubu Dogara, has publicly attributed Nigeria's severe economic challenges to the fiscal and monetary policies of the previous administration led by former President Muhammadu Buhari.
Dogara's comments were delivered in a widely circulated video published on Tuesday. He asserted that the Buhari administration significantly devalued the national currency through a series of reckless financial decisions.
A central point of his critique focused on the reported printing of N22.7 trillion through the "Ways and Means" mechanism, a process he claims flooded the economy with unsecured currency and destroyed the naira's purchasing power.
He stated that President Bola Tinubu inherited an already "wrecked" economy, which was further destabilized by this indiscriminate money printing, a controversial system of multiple exchange rates, and the practice of using future crude oil sales as collateral for foreign loans.
“By the time President Tinubu took office, the economic debris of this nation had become too conspicuous to be ignored,” Dogara was quoted as saying in the video.
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