Current Economic Recession Requires Our Sacrifice, Says Tinubu

Posted by African Examiner Featured, Latest Headlines, News Thursday, September 29th, 2016

Ayodele Afolabi, Abuja

Former Lagos State Governor and the ruling All Progressives Congress (APC) National Leader, Asiwaju Bola Tinubu, has said the present economic recession the country requires the sacrifice of all Nigerians to see the country through.

In a short remark on Wednesday night in Lagos at the Chartered Institute of Stockbrokers’ investiture of its President, Mr. Oluwaseyi Emmanuel Abe, Tinubu said Nigeria was blessed with both human and natural resources, which it will now properly harness to come out of the recession.

The APC leader also spoke on the significance of electricity in driving economic development. He recalled how Lagos State invested in private power project to generate electricity during his time as governor.

Also speaking at the event, former Vice President Atiku Abubakar, said the country should rely on taxes and not oil, arguing that Nigeria’s problem is addiction to oil revenues.

He decried the belief that the country is doomed unless oil flows and oil money fills the Federation Account for all tiers of government to share.

Former AMCON CEO, Mustapha Chike-Obi, spoke on the theme “Nigeria’s Economy: Growth, The Only Imperative” at the investiture.

Tinubu described Chike-Obi as one of the best economic managers the country has ever produced.

In his presentation, Chike-Obi urged the country to borrow to finance specific capital projects, saying the fact that borrowing was misused in the past did not mean borrowing as an economic option is wrong.