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Home Business News

“Tinubu inherited bad economy”: How social media reacted to Minister of Finance, Wale Edun’s Statement

Nathanael Disu by Nathanael Disu
August 29, 2023
in Business News, Reactions
Minister of Finance, Wale Edun, FEC

Minister of Finance, Wale Edun

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Nigerians have taken to X app (Twitter) to criticize Minister of Finance, Wale Edun saying he should stop blaming past governments on the state of the economy.

Recall that Minister of Finance and Coordinating Minister of the Economy, Wale Edun, while briefing State House correspondents at the end of the inaugural Federal Executive Council (FEC) meeting said the Tinubu administration met a very bad economy with inflation at 24%.

In the words of the Finance Minister, he said:

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  • “Per capita had fallen steadily, inflation is at 24%, unemployment is high, you know they are rebasing how it’s calculated.
  • “Either way, it is high and youth unemployment is even unacceptably high, these are the key metrics that we have met.”
  • “We met a bad economy, but Mr. President promises to make it better.”

Reactions on X app (Twitter)

Nigerians have reacted to his statement saying that governments in power should stop blaming past governments for the ills of the economy.

Others (in a move to criticize the ruling party for hypocrisy) were puzzled as to why Wale Edun made this declaration knowing fully well that the said “bad economy” was inherited from the same political party (APC).

Ajani Oluwole recalled that the “bad economy inherited” was the same sentiment Buhari gave when he was in power for 8 years.

  • “Wale Edun should stop this story of bad economy were you not aware of it before now? The same story from @MBuhari for eight years please Nigerians don’t want to hear stories”

Wale Edun should stop this story of bad economy were you not aware of it before now? The same story from @MBuhari for eight years please Nigerians doesn't want to hear stories

— Ajani Oluwole❤🇳🇬 (@AjaniOluwole9) August 29, 2023

 

Akin Olaoye gave a reality check on the state of the economy from one APC government to another. He said:

  • “APC says they met a bad economy left by APC, Dollar is N926, unemployment na 50% plus, fuel over N600/litre, War on the verge with Niger, Pomo is N200 and bag of rice is N38k. But na Buba Porn leak Nigerians dey feast ontop twitter. Please if you share or bookmark that video you will not enter heaven!”

APC says they met a bad economy left by APC, Dollar is N926, unemployment na 50% plus, fuel over N600/litre, War on the verge with Niger, Pomo is N200 and bag of rice is N38k. But na Buba Porn leak Nigerians dey feast ontop twitter.
Please if you share or bookmark that video you…

— Akin Olaoye (@akintollgate) August 29, 2023

Mazi Ibem recalled how past governments have been blamed for the state of the economy. He said:

  • “Buhari blamed Jonathan’s PDP government for 8 years and ended up being the WORST government Nigeria has ever had. Tinubu’s APC government is now blaming Buhari’s APC government. . The blame game continues while the masses suffer.”

Buhari blamed Jonathan's PDP government for 8 years and ended up being the WORST government Nigeria has ever had.

Tinubu's APC government is now blaming Buhari's APC government. 🤔🤔🤔. The blame game continues while the masses suffer.

Instead of LIKES, follow me for immediate…

— Ibem Kalu (@Mazi_Ibem) August 28, 2023

ThankGod Atuegbu is questioning how Tinubu would revive the economy after admiting his predecessor messed up the state of the economy. He said:

  • “Is now obvious that Buhari’s administration damaged our economy before leaving office. ThankGod Tinubu accepted he inherited a bad economy. And my question is: which magic will Tinubu use to revive our economy Buhari’s administration damaged within his four years in office.”

Is now obvious that Buhari's administration damaged our economy before leaving office. ThankGod Tinubu accepted he inherited a bad economy. And my question is: which magic will Tinubu use to revive our economy Buhari's administration damaged within his four years in office.

— ThankGod Atuegbu (@ThankgodAtuegb1) August 29, 2023

Olamide Obe sarcastically asked who Tinubu inherited the economy from. He said:

  • “Who handed it over to them? Isn’t it same APC that mismanaged the economy in the first place?”

Who handed it over to them?
Isn't it same APC that mismanaged the economy in the first place?

— Olamide Obe (@olajideobe) August 29, 2023


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Tags: FECMinister of FinanceWale Edun
Nathanael Disu

Nathanael Disu

Nathanael Disu is a Financial Analyst at Nairametrics. He also runs a Financial Intelligence Bootcamp which helps individuals get better understanding of their Money.

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Comments 3

  1. Ifeanetu Victor Emeka says:
    August 29, 2023 at 11:06 am

    Apc can never change. Blame game & divide and government…a lay man 👨 in nigeria knows we are sitting in a keg of bad situations before now , thurnder fire 🔥 any minister of president that complain instead putting nigeria at work

    Reply
  2. Stan says:
    August 29, 2023 at 2:21 pm

    Oh, you people didn’t know the state of the economy when your oga was contesting to be president? So why contest in the first place if not to solve the observed problems besieging the country. This shows that most of these politicians are vying for political positions for other reasons known to them, but definitely not to move the country forward.

    Reply
  3. Faboyin Julius says:
    August 30, 2023 at 5:53 am

    We are watching.

    Reply

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