Obasanjo Blasts Buhari For Blaming Past Administrations For Recession


Former President Olusegun Obasanjo Blasts Buhari For Blaming Past Administrations For Recession.

Obasanjo in an address on Wednesday blasted President Muhammadu Buhari for blaming past administration for Nigeria’s economic woes.

Harping the state of the nation, former President Olusegun Obasanjo, urged the president to rise to the challenges posed by the current recession.

Obasanjo stated that orders, wishful thinking and blame game would not solve the hapless state of affairs in the country.

READ ALSO:  FG Owes Jonathan,Shagari, Obasanjo,Gowon Retirement Allowances

The former president also examined the manner the issues of corruption, proposed external loan, and recession among others were being responded to by the Federal Government.

He commended the government on the anti-graft war.

Obasanjo Blasts Buhari, Says Blaming Won’t Help Recession

He, however, regretted that the government had no comprehensive policy that would address the current state of despair in Nigeria.

Former President Obasanjo made this knwon in Lagos at the first annual lecture of Akintola Williams Foundation.

He said that it was uncharitable for the present administration to be blaming past governments that had served since 1999.

He noted that only a comprehensive framework would save the country.

Obasanjo spoke on the theme: Nigeria, Yesterday, Today and Tomorrow: Governance and Accountability.

He observed that Nigeria had the right people, who could be brought together to help device the right economic policy that would get the country out of the current economic woes.

Obasanjo Blasts Buhari For Blaming Past Administrations

The elder statesman voiced his opposition to the federal government’s plan to borrow $3o billion.

He stated:

“Again, now we are being told the projects will pay themselves when we know damn well they will not.

“If we borrow some $30 billion in less than three years, we would have mortgaged the future of Nigeria for well over thirty years to come.

“There may also be the problem of absorptive capacity which will surely lead to waste.

“A careful scrutiny of the projects with prioritization and avoidance of waste and taking into account avoiding bunching of debt service in future.

READ ALSO:  See Ex-President Obasanjo Wear Made In Aba Shoes

“Especially when no one can accurately forecast the global and national economy will indicate less than thirty per cent of the foreign loan being requested as prudent.

“The blanket adverse comments or castigation of all democratic administrations from 1999 by the present administration is uncharitable, fussy and uninstructive.

“Politics apart, I strongly believe that there is a distinction between the three previous administrations that it would be unfair to lump them all together.

“I understand President Buhari’s frustration on the state of the economy inherited by him.

“It was the same reason and situation that brought about the cry for change, otherwise, there would be no need for change if it was all nice and rosy.