Former World Bank Vice President for
Africa and the brain behind the BBOG, Oby Ezekwesili, has asked Nigerians to
hold President Muhammadu Buhari responsible for the current economy recession. She
made this known in Whatsapp page last night:
“I still find it funny that most
people don’t know why Nigeria economy went into recession. They love the
incompetent lies of Lai Mohammed about the past government ruining everything.
"It’s also myopic to think that if Jonathan were to still be in power, we
would be worse off. The truth about Nigeria’s recession is this; it was caused
by the president’s unguided rhetoric and uncultured body language.
"Firstly,
there is nothing we are buying today that we weren’t buying five years ago,
therefore it’s not our purchase that put pressure on Naira but withdrawal of
funds by foreign investors.
"After the election, the President created
instability with his statements about how everyone is corrupt and how everyone
is going to jail.
"The instability made foreign investors to liquidate their
investment and change their money to dollars. In the process of trying to flee,
they were willing to buy dollars at any price, which lead to high exchange
dollar rate.
"Even though some of them were not ready to run away, but want
their money in dollars to save their investments from devaluation, the
president gave a bad signal by banning deposit of foreign currency into
domiciliary accounts.”
"That was enough for free market believers to see the
draconian handwriting on the wall, that was the beginning of dollar rush.
"To
make matters worse, the President came up with another outrageous policy of
rationing dollar to certain sectors and blocking many sectors out. That was the
nail in the coffin which facilitated the emergence of free fall.
Ezekwesili blames
Buhari for Nigeria’s woes
On September 12, 20166:55 amIn NewsComments
By Victoria Ojeme
Former Education Minister, Oby Ezekwesili, has blamed President
Muhammadu Buhari for the current economy recession.
Ezekwesili, who stated in a whatsApp message last night, said: “I still
find it funny that most people don’t know why Nigeria economy went into
recession. They love the incompetent lies of Lai Mohammed about the
past government ruining everything.
‘’It’s also myopic to think that if Jonathan were to still be in power,
we would be worse off.
”The truth about Nigeria’s recession is this; it was caused by the
president’s unguided rhetoric and uncultured body language.
‘’Firstly, there is nothing we are buying today that we weren’t buying
five years ago, therefore it’s not our purchase that put pressure on
Naira but withdrawal of funds by foreign investors.
‘’After the election, the President created instability with his
statements about how everyone is corrupt and how everyone is going to
jail.
‘’The instability made foreign investors to liquidate their investment
and change their money to dollars. In the process of trying to flee,
they were willing to buy dollars at any price, which lead to high
exchange dollar rate.
‘’Even though some of them were not ready to run away, but want their
money in dollars to save their investments from devaluation, the
president gave a bad signal by banning deposit of foreign currency into
domiciliary accounts.”
‘That was enough for free market believers to see the draconian
handwriting on the wall, that was the beginning of dollar rush.
‘’To make matters worse, the President came up with another outrageous
policy of rationing dollar to certain sectors and blocking many sectors
out. That was the nail in the coffin which facilitated the emergence of
free fall.
Read more at: http://www.vanguardngr.com/2016/09/ezekwesili-blames-buhari-nigerias-woes/
Read more at: http://www.vanguardngr.com/2016/09/ezekwesili-blames-buhari-nigerias-woes/
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