Recession: Hold Buhari responsible

Recession: Hold Buhari responsible

Posted by Sylvester on Monday, October 3, 2016 0

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Chief Chukwuemeka Ezeife, who holds a doctorate degree in Economics and who has a Commander of the Order of the Niger, CON, award and was Third Republic Governor of Anambra State as well as being a former Presidential Adviser on Political Matters to ex-President Olusegun Obasanjo. He was also a member of the 2014 National Conference in this interview, the retired permanent secretary, speaks on burning national issues including economic recession, the debate on sale of national assets and the Biafran agitation, among others.

THE Federal Government pushed the country into recession. Some of the actions are inexcusable. Some are very pitiable. What affects the confidence of economic agents is what they see, what they hear, what they feel. If the government of the country begins to say the government is broke, they (investors) have nothing to doubt. That accounts for so many exits from Nigeria.

There were all kinds of normally unprintable things said by our government: that we are bankrupt, we are broke, we are this and that. They took over and within a very short time they started making negative statements about the economy. This is not a matter of blaming anybody. You just look at how many companies have quit Nigeria. I know of a friend who brought in some expatriates to co-invest with him here. They were just about to get started when the first salvo from government was fired that the country should not be invested in, because that is what it means; that the country is broke, that it is a poor economic decision to come here. So, the foreigners ran away and the man is still struggling now to get new partners.