Dr. Abass Mimiko, the Zenith Labour Party (ZLP) governorship candidate in the November 16, 2024 Ondo State election, has defended President Bola Tinubu’s economic reforms, insisting Nigeria was on the verge of collapse before the current administration took over in 2023.
Speaking in an interview with journalist Tosin Tope, Mimiko — younger brother of former Ondo State Governor Olusegun Mimiko — said Tinubu demonstrated courage by removing fuel subsidy and unifying the foreign exchange market, policies previous administrations avoided.
According to him, Nigeria’s economy had become unsustainable due to massive subsidy payments and rising debt servicing obligations.
“The president took over an economy that had virtually collapsed. Before Tinubu came in, Nigeria was spending about N4 trillion annually on fuel subsidy, while over 95 per cent of government earnings went into debt servicing,” he said.
Mimiko argued that subsidy removal, though painful, was necessary to stabilise the economy and improve revenue allocation to states. He noted that state allocations had increased significantly since the policy took effect.
He also praised Tinubu for ending the dual exchange rate system, which he claimed had enriched politically connected individuals at the expense of the economy.
“He floated the naira and equalised the exchange markets. Whether we like it or not, that has improved confidence in the economy,” he stated.
Despite being a member of the opposition ZLP, Mimiko openly declared support for Tinubu and hinted he would back the President for a second term in 2027.
“I’m supporting him now, and I believe I will support him for a second term. One good turn deserves another,” he said.
On claims that Nigeria’s opposition is being weakened under Tinubu, Mimiko dismissed accusations that the President was stifling democracy. Instead, he blamed internal weaknesses within opposition parties for the wave of defections into the ruling APC.
“For democracy to survive, opposition must be robust. But I don’t see any credible evidence that Tinubu is suppressing opposition parties,” he said.
The former governorship candidate also recalled Tinubu’s role in supporting opposition politicians during the administration of former President Olusegun Obasanjo, particularly in helping opposition figures reclaim what he described as stolen electoral mandates in the South-West.
Mimiko further described the Zenith Labour Party as “alive and vibrant,” insisting the party remains active across Ondo State despite concerns about the future of smaller political parties in Nigeria.
On governance in Ondo State, he maintained that the administration of former Governor Olusegun Mimiko remained the best in the state’s history, while urging support for Governor Lucky Aiyedatiwa.
He, however, noted that Ondo’s growing federal allocations should translate into better development outcomes for residents.