President Muhammad Buhari has again blamed the current economic woes of the country on the failure of the past administration in the area of savings especially when it experienced the oil boom.
President Buhari reiterated the cause of the current economic hardship in the country while receiving the Chief Global CEO of Unilever, Mr Paul Polman on Monday at the Presidential Villa in Abuja.
Buhari also noted that the country will see better days yet again as his administration is committed to restructuring the country and its economy.
He said: ”We refused to save for the rainy day. Now the rain is beating us. No money, no savings, nothing. And we are thoroughly wet from the rains”.
Speaking further, the president noted that the implementation of a mono economy in the nation is the chef problem the country is faced with. He continued however that the country will soon feed itself and havve surplus for exports with the new focus being diverted into the Agricultural sector.
“We want to create jobs, and supporting manufacturing is one way to do it. As soon as we have stabilized our budget, I would personally be interested in the manufacturing sector, particularly in the generation of essential raw materials,” the President said.
Former defacto Prime Minister of Nigeria, Ngozi Okonjo Iweala has blamed sitting cabinet officials, notably Power and Housing minister, Babatunde Fashola and Transport minister, Rotimi Amaechi of being at the head of an interest group that stopped the Goodluck Jonathan government from saving billions of dollars as intended from the Excess Crude Account. The former APC governors instituted legal actions against the Jonathan administration in order to force the sharing of the funds.
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