President cannot bring Nigeria out of recession - Gbadamosi

chika ebuzor

October 29, 2016 1:43 PM

Gbadamosi also described the current economic crisis as a bomb waiting to explode.

Nigeria's President Muhammadu Buhari gives a press conference in Berlin on October 14, 2016

A former minister of planning, Rasheed Gbadamosi, has said President Buhari cannot bring Nigeria out of recession.

Gbadamosi, who is also the ex-Chairman of Petroleum Products Prices Regulatory Agency (PPPRA), said past governments did not plan for the recession.

He said “I was not surprised. It had to happen but it was a question of when it would happen. It was meant to have come a long time ago.

“I was not surprised because before Buhari’s regime, we had anticipated that the recession would come. It was something that was anticipated but what did we do?”

Adding that “There was a feeling that somehow it would not happen and we would be able to weather the storm but that was not the case. Poor mother Africa was hopeful that the cross would pass over us but it did not seem to be so.

“There was a feeling that Olusegun Obasanjo could have averted such a situation if it happened during his time.

“Nigeria was not prepared It is not just a question of Nigeria saving, we were not totally prepared. I think we threw caution to the wind.

“Look at what happened to some other nations of the world, they had been through this but they weathered the storm. I think Nigerians thought the world owed us a meal, they believed the world owed us a living.”

In a related development, the National Chairman of All Progressives Congress (APC),ohn Oyegun, told newsmen that God sent President Buhari to save Nigeria from collapse.

chika ebuzor