The 2023 presidential candidate for the Social Democratic Party (SDP), Adewole Adebayo, has voiced his disapproval of President Bola Tinubu’s economic strategies.
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According to Adebayo, Tinubu’s economic approach stands in stark contrast to the successful policies implemented in Brazil.
The SDP leader made these comments on Wednesday during an interview on ‘Politics Today’, a show aired on Channels Television.
Adebayo’s remarks were in response to statements made by President Tinubu while addressing Nigerians in North America. Tinubu had claimed that Nigeria and Brazil once had comparable economic foundations.
“Once upon a time, Nigeria and Brazil stood on the same level. Look at Brazil today, its technology, its food systems. We must ask ourselves: what do they have that we don’t?
“We have the brains, the energy, and the youth. We have everything we need. Now, we must act,” Tinubu stated.
In response to Tinubu’s comments, Adebayo pointed out that Brazil has effective economic policies that Nigeria currently lacks.
“Brazil is next to the USA; thus, they possess a robust economy with both government and private sector involvement. They have local industries emerging from agriculture, coffee, soya beans, and more; plus, they excel in high-end sectors like aeronautics and defense.
“The nation that profits significantly from aircraft production, such as Embraer and other companies, earns more from producing plain soya beans. Therefore, the president’s economic policy is contrary to the successful model seen in Brazil.
“I’m glad he’s there, because by visiting, he will realize how misguided his own policies are,” Adebayo remarked.