Primate Ayodele Accuses Finance Minister of Giving Tinubu Wrong Economic Advice

The Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has criticised the economic advice being given to President Bola Tinubu by the Minister of Finance, Taiwo Oyedele, arguing that the government’s borrowing strategy could worsen Nigeria’s economic challenges.

Ayodele made the remarks on Friday in a statement signed by his Head of Communications, Osho Oluwatosin.

The cleric claimed that the government’s continued borrowing was the result of poor economic advice and warned that the country’s growing debt burden could have serious consequences.

He also argued that further borrowing could affect public opinion ahead of the next general election, claiming that Nigerians were dissatisfied with economic conditions despite the government’s efforts to secure additional funds.

Ayodele urged the Federal Government to focus on developing Nigeria’s natural and mineral resources to generate revenue rather than repeatedly seeking loans from financial institutions.

He also called on the Minister of Finance and the Governor of the Central Bank of Nigeria to reconsider their approach, warning against relying on tax revenue as a means of generating additional funds for the country.

“Tinubu should stop borrowing money; the more he does, the more he loses this election. Our mineral resources can be used to make money instead,” Ayodele said.

He added, “The Minister of Finance and CBN governor have to do something, and they shouldn’t use tax to create money. Nigeria is in serious debt. We should use what we have to get money, but the government isn’t serious about it.”

The cleric further urged Tinubu to prioritise settling existing debts and improving economic conditions instead of taking on more loans.

He specifically criticised the finance minister’s economic recommendations, alleging that the policies being proposed would not address the country’s challenges.

“Tinubu should find a way to settle the debt instead of borrowing more and focus on economic buoyancy. The Minister of Finance’s advice isn’t working; the policies he is advising the government on will not help Nigeria. The economy will burst if care isn’t taken, and things will continue to be costly,” he said.

Ayodele’s comments add to public debate over government borrowing, revenue generation and the cost of living in Nigeria. However, his remarks represent his assessment of the government’s economic direction.