“Cosmas Maduka: Peter Obi Would Have Done Exactly What Tinubu Did!”
Business magnate and founder of Coscharis Group, Cosmas Maduka, has asserted that former presidential candidate Peter Obi would have implemented similar policies to those of President Bola Tinubu’s administration had he won the election.
Speaking during a Saturday appearance on the Mic On podcast with Seun Okinbaloye, Maduka emphasized that, despite the ongoing economic challenges, Nigeria is on the right path. He specifically addressed concerns over the controversial subsidy removal, stating that it was an inevitable decision, regardless of who was in power.
“People have asked me whether Peter Obi would have done anything differently if he had won the election. My answer is no. He would have removed the subsidy from day one as well,” Maduka explained.
Maduka acknowledged the difficulties posed by the naira’s depreciation and the economic strain, but he stressed the importance of using the savings from the subsidy removal for productive purposes, particularly infrastructure. He believes that if these funds are invested wisely, Nigeria can make significant progress.
“If the funds are used productively, there will be progress. If we fail to reinvest them in key areas, we will remain stagnant,” he warned.
Addressing Nigeria’s growing debt profile, Maduka argued that borrowing itself is not inherently bad, as long as the funds are directed toward capital projects and infrastructure, rather than frivolous spending.
“There is some level of discipline required to curtail excesses from the government. Are we in the right direction? Yes,” he concluded, expressing optimism for the country’s future if financial resources are used responsibly.
