Adams Oshiomhole, senator representing Edo north, says the administration of President Bola Tinubu inherited “a terrible economic situation”.
Since President Tinubu assumed office in May, the government has been battling to fix the economy.
His pronouncement that the “subsidy was over” has led to an increase in the pump price of petrol and the cost of living in the country.
Speaking with reporters after a meeting with Vice-President Kashim Shettima at the Aso Rock on Tuesday, Oshiomhole said there is no quick fix to the economic challenges confronting the country.
The former governor of Edo said “painful decisions” would be needed to address the issues.
“The issues of the economy is work in progress. There is no quick fix. The government inherited a terrible economic situation. Everybody knows it,” he said.
“The government inherited an economy in which our total national revenue was barely enough to service our debt burden.
“Nothing can be worse. But they came determined that they will have to do business unusual; to arrest the drift; stabilise the economy and then begin to move forward.
“Some painful decisions are necessary. It is like any of us that has been unfortunate to have an ailment that requires surgery.
“If you want to pretend, you can be applying vaseline, perfumes, creams and wear babariga to cover all the manifestations of that disease.
“But a trained doctor that believes in the ethics of medicine will tell you that you need a surgery.”
Source: Top Stories