Former Minister of Transportation, Rotimi Amaechi, has asserted that ex-President Olusegun Obasanjo was the last Nigerian leader to foster a thriving middle class, emphasizing that no administration since then has successfully maintained a stable economic bridge between the wealthy and the poor.
Amaechi made this statement during a two-day event in Abuja, themed “Strengthening Nigeria’s Democracy: Pathway to Good Governance and Political Integrity.”
The event, organized by several governance and democracy-focused institutions, brought together key stakeholders to examine Nigeria’s political and economic landscape.
While speaking on the “Impact of Democracy on the National Economy”, Amaechi highlighted the deepening economic inequality in Nigeria.
He lamented that the country now operates a “two-class system”, where individuals are either extremely wealthy or struggling in poverty, with no middle class to balance the divide.
“The last time we had the middle class was under President Olusegun Obasanjo. He created an economy that generated jobs. Even though some argued it was a shaky middle class that disappeared at the end of every month when salaries were paid, at least we had a middle class.
“Now, it’s either you are rich or you are poor. If social housing and investments in agriculture had been implemented alongside subsidy removal, people would not feel the impact as harshly as they do now,” Amaechi stated.
He further criticized economic policies that failed to cushion the impact of subsidy removal, stressing that social housing and agricultural investments could have softened the economic hardships faced by many Nigerians.