ABUJA — Chieftain of the Peoples Democratic Party (PDP) and 2027 presidential hopeful, Dr. Gbenga Olawepo-Hashim, has delivered a scathing assessment of President Bola Ahmed Tinubu’s economic legacy, describing the current administration as a collection of “treasury parasites” who lack the business background required to rescue Nigeria’s economy.
Speaking during an interview on Channels Television on Thursday, February 5, 2026, the businessman and former presidential candidate argued that the President’s highly touted “track record” in Lagos State fades in comparison to the developmental achievements of former military president Ibrahim Babangida (IBB).
Third Mainland Bridge vs. Lekki Toll Gate
Olawepo-Hashim questioned the substance of Tinubu’s infrastructure legacy in Lagos, contrasting it with landmark projects built during the military era.
“We keep saying Tinubu has a track record, but IBB built the Third Mainland Bridge, while Tinubu built a less than one-kilometre road and put a toll on it,” he stated. “Can you imagine Lagos without the Third Mainland Bridge? IBB contributed more to Lagos’ development because he built that landmark infrastructure. If you remove it today, what is left?”.
‘Treasury Parasites’ vs. Business Background
The PDP chieftain warned that Nigeria’s economy is being run by individuals who have spent their entire careers within government coffers rather than creating wealth in the private sector.
“We need people who have business backgrounds to run the economy, not parasites who have lived their lives in the treasury,” Olawepo-Hashim remarked. “All they know how to do is plan for the next election, but they don’t know how to plan for jobs or how to build an economy”.
Shocking GDP Regression
Citing current economic data, Olawepo-Hashim noted a “shocking regression” in the nation’s wealth under the APC-led administration:
- Economic Decline: He noted that Nigeria’s GDP, which peaked at over $574 billion under former President Goodluck Jonathan, has now tumbled to around $230 billion under President Tinubu.
- The Devaluation Illusion: He dismissed recent claims of GDP growth as a “media-driven illusion” caused by currency devaluation, stressing that “Nigerians cannot eat GDP statistics when food has become unaffordable”.
- Live Debate Challenge: Olawepo-Hashim issued an open challenge to the Governor of the Central Bank of Nigeria and the Minister of Finance to a live public debate to defend their economic strategies against his proposed $4 trillion economic blueprint.
Opposition Politics and 2027
The presidential hopeful also dismissed the African Democratic Congress (ADC) as a viable alternative, labeling many of its members as “Buharists” who were part of the initial problem. He further condemned the PDP’s recent decision to zone its 2027 ticket to the South, calling it a “default campaign” for Tinubu’s re-election led by “infiltrators” within the opposition.
As of late Thursday, the Presidency has not responded to the “treasury parasites” remark, though supporters of the administration continue to point to the Lagos-Calabar Coastal Highway as evidence of the President’s commitment to landmark infrastructure.
