Political commentator, author, and entrepreneur Ugoji Maximillian contrasted President Bola Tinubu’s economic approach with that of former Anambra State governor and 2023 presidential candidate Peter Obi, arguing that Obi’s economic philosophy prioritises caution and savings over large-scale investment.
“Transformational economies are built by leaders willing to invest boldly in major projects,” Maximillian said.
“Avoiding big infrastructure limits long-term growth.”
He further argued that Obi’s tenure as governor did not leave behind a transformative economic legacy, a claim disputed by supporters of the former governor and analysts who credit Obi with fiscal prudence and debt reduction during his administration.
Maximillian noted that on the subject of President Bola Tinubu’s tax reforms, top economists such as Emir Sanusi II, Dr Ngozi Okonjo-Iweala, and Professor Charles Soludo have expressed support, saying the President is taking steps previous governments avoided.
He pointed out that the Emir of Kano, Muhammadu Sanusi II, has expressed strong backing for President Bola Ahmed Tinubu’s tax reforms, describing them as necessary measures that earlier administrations either failed or refused to take.
Sanusi, a former Governor of the Central Bank of Nigeria and an economist, said reforming Nigeria’s tax system is critical to building a sustainable economy, reducing over-reliance on borrowing, and ensuring fairness among taxpayers.
“Reforming the tax system is essential if Nigeria is serious about strengthening its economy, reducing debt dependence, and creating fairness,” Sanusi said.
“These reforms may be difficult initially, but they are necessary for long-term stability and growth.”
Economists have long argued that meaningful tax reform is essential to reducing fiscal deficits, strengthening public finances, and supporting infrastructure development.
According to Maximillian, Sanusi also noted that while such reforms often face resistance because of their short-term impact on citizens and businesses, they are crucial for long-term economic stability.
Support for Sanusi’s position, he said, aligns with the views of other prominent economists and institutions.
Maximillian further noted that Anambra State Governor and former Central Bank governor, Professor Charles Soludo, has publicly defended similar tax policies and is currently implementing comparable reforms at the state level.
Similarly, he remarked that former Nigerian Finance Minister and current World Trade Organization Director-General, Dr Ngozi Okonjo-Iweala, has described the Tinubu administration’s reforms as “bold” and necessary to reset the economy.
International financial institutions, including the International Monetary Fund (IMF) and the World Bank, have also acknowledged Nigeria’s reform agenda, noting that improved revenue mobilisation and fiscal discipline are key to long-term economic growth.
Maximillian said: “So who again should you listen to? Emir Muhammadu Sanusi is an economist, and he has said Tinubu’s reforms are rightly headed.
“Professor Charles Soludo is an economist; he has said the same things and is even implementing similar tax laws in Anambra now.
*Dr Ngozi Okonjo-Iweala is an economist, and she has said that Tinubu’s reforms are bold and beautiful.
Even politicians who have no reason to love what he is doing have acknowledged it.
“The IMF and World Bank have said the same thing. So who are you supposed to listen to?
“Peter Obi runs an importation economy. He is not supposed to be your source of advice.
I always say that governing Anambra was Obi’s biggest opportunity to prove his abilities and test his economic policies.
Anambra is a state with the potential to become the Taiwan of Africa, but instead he manufactured poverty.
“He left no sustainable legacy. If he had, Nigerians would have simply handed him the country to rule and perform the same economic miracles.
“Make Obi President today and he will begin to patch roads and save money. That is his strategy — the stingy uncle’s economics — and that has never developed any nation.
“An audacious project like the Coastal Road cannot be undertaken by Obi; he would consider it a waste of money.
That is not how big economies are built. Even at the individual level, only bold investors — those willing to commit to major projects like the Dangote Refinery — make a real impact on nations.”
Maximillian challenged Peter Obi’s supporters to refute his analysis.
