Ex-President blames Jonathan for recession

monjola sotubo

September 28, 2016 9:24 AM

Obasanjo explained that he warned Jonathan about spending more than the country’s earnings but his advice was ignored.

Former Presidents Olusegun Obasanjo and Goodluck Jonathan

Former President,

The former president made the comment on Tuesday, September 27, at the opening ceremony of the National Council on Finance and Economic Development Conference (NACOFED) in Abeokuta, Ogun State.

“I reminded the government that we were spending more than we were earning. that very soon, the country would not be able to fund the budget… Unfortunately, the government then refused to listen to my advice,” Obasanjo said according to Daily Trust.

“I was shocked when the ban on importation of toothpick which we imposed in 1977 was lifted four years ago. How can a nation seeking to rank among the best in the world continue like that?" he added.

The former president also gave three solutions to the current recession.

“The three options are we have to spend less, we must endeavor to earn and then the last one is to borrow, and this if we must, we do it fast and now,” he said.

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President Muhammadu Buhari had earlier also blamed Jonathan for the recession saying that he did not inherit any savings from his predecessor.

monjola sotubo