The Minister of Information and Culture, Alhaji Lai Mohammed has tied the present economic meltdown facing the country to the inability of the country to dictate the price of crude or gas.
Lamenting on Saturday, the Minister added that the economic situation of the country has gone beyond the government’s control as the negative spiral effect of the present economic meltdown is far more than what was expected.
He continued that the travels of the President, especially to oil producing nations is justified in that he is trying to stabilise global oil prices and attract Foreign Direct Investment, FDI, into the country. He added that critics should desist from their mischievous plans.
He further added that if the President succeeds in his plans to stabilise Oil prices, it will positively affect the value of the naira.
Alhaji Lai Mohammed noted that the efforts of the President in moving the economy forward and trying to stabilise it should be considered a credit point to his administration.