The Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has accused the Minister of Finance, Taiwo Oyedele, of giving President Bola Tinubu wrong advice, particularly on the management of Nigeria’s economy.
Ayodele, in a statement signed by his Head of Communications, Osho Oluwatosin, said the Federal Government’s continued borrowing was a result of poor economic advice, warning that the situation could have serious consequences for the country.
The cleric warned that Tinubu’s chances of winning the next election could reduce further if his administration continues to borrow money, noting that Nigerians are becoming increasingly unhappy with the state of the economy despite the loans being obtained.
He urged the government to explore Nigeria’s mineral resources and other available resources to generate wealth instead of depending on loans from financial institutions. He also warned the Finance Minister and the Governor of the Central Bank of Nigeria against relying on tax revenue to generate money.
According to Ayodele, Nigeria is already heavily indebted, and the government should focus on repaying existing debts rather than accumulating more loans.
He further criticised the economic policies being recommended by the Finance Minister, warning that they could worsen the country’s economic situation if urgent measures are not taken.
“The economy will burst if care isn’t taken, and things will continue to be costly,” he warned.