Senator Adams Oshiomhole has openly accused former President Muhammadu Buhari of wrecking Nigeria’s economy through reckless monetary decisions, particularly the excessive printing of money during his administration. The explosive comments have ignited intense debate nationwide, as the country continues to grapple with record inflation and a depreciating naira.
Speaking on Channels Television’s Politics Today on Friday, June 28, Oshiomhole, a former National Chairman of the APC and current senator representing Edo North, distanced President Bola Tinubu from the current economic crisis. He claimed that many of the financial problems facing Nigerians today stem directly from poor fiscal policies under Buhari’s government.
“Buhari printed money carelessly and shared it. I said so before, and I’m saying it again. That’s why the economy is where it is,” Oshiomhole stated. “When a government resorts to printing money without productivity, it is only a matter of time before the nation faces the consequences.”
He argued that the Buhari administration, especially under former Central Bank Governor Godwin Emefiele, manipulated the economy by injecting trillions of naira into circulation without economic backing, creating artificial stability and delaying inevitable shocks. He also alleged that many of the loans supposedly obtained by the federal government were not properly accounted for.
The former labour leader said President Tinubu inherited a “time bomb” and has been working to dismantle the traps laid by his predecessor. “Tinubu didn’t appoint Emefiele. He inherited him. It was after careful review that Emefiele was suspended. This mess wasn’t created in one year,” he added.
Oshiomhole’s remarks align with growing sentiments from economists who blame the Naira’s free fall and food inflation on the money-printing spree between 2020 and 2023, during which Nigeria’s public debt also ballooned to over ₦77 trillion.
Political observers believe this rare public criticism from a party stalwart signals a deepening divide within the APC over Buhari’s legacy. While Tinubu’s camp pushes for structural reforms, many Nigerians remain skeptical of the leadership that led to the economic downturn.
