Recession: We Cannot Continue to Lament, Says Obasanjo Sheriff Balogun in Abeokuta
As recession continues to bite, former President Olusegun Obasanjo said yesterday that Nigeria could not continue to lament the current economic crisis. Obasanjo gave this advice
yesterday in Abeokuta at a lecture organised by members of the Youth Fellowship of the Owu Baptist Church as part of the Church's activities to mark the Independence anniversary on theme: 'Nigeria Development for Nigerians by Nigerians'. The current administration
and the immediate past government had been enmeshed in a blame game for some time. While the government of President Muhammadu Buhari has accused the erstwhile administration of Dr. Goodluck Jonathan of causing the economy to plunge into recession, some members of the
past government said the prevailing crisis was as a result of the wrong steps the present government had taken in managing the economy. Just last week, President Buhari said he would not stop blaming his predecessors for the current state of the nation. But Obasanjo recalled he
hinted a recession was imminent two years ago when he saw how recklessly the immediate past administration was spending the country's resources but his advice was ignored. He, however, said since the country is now confronted with the realities “we cannot
continue lamenting.” Nevertheless, talking about developing the economy, Obasanjo insisted it must not be left to Nigerians alone but should also include foreign investors. As some of the recipes for Continued on page 8
348 Boko Haram Suspects, Including 127 Children, Released by Military ...Page 10
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Buhari: I Know Things Are Difficult, But We’re Working Out Lasting Solution
Outlines programmes to revive economy, strengthen Naira, and combat hunger Says Nigeria will be self-sufficient in staple food production by 2019 Warns no group can unlawfully challenge FG successfully Vincent Obia Times are hard for many Nigerians, but this is a temporary situation that the country will soon overcome, President Muhammadu Buhari said yesterday in a speech to
mark Nigeria’s 56th independence anniversary. In the speech broadcast live nationwide, Buhari outlined economic, political, and security measures his government was pursuing to get the country out of the current difficulties. The federal government
had in July admitted, after initially hesitating, that the country was in recession, with the National Bureau of Statistics reporting that key fundamentals, including Gross Domestic Product, inflation, and unemployment were even worse than
the rates projected for the year. The recession has been blamed on a huge fall in the prices of crude oil, which accounts for nearly 90 per cent of the country export. But Buhari said his government had identified the issues behind the cri-
sis and was implementing appropriate programmes to address them. “I know that uppermost in your minds today is the economic crisis. The recession for many individuals and families is real,” he stated, adding, “I know how difficult things are,
and how rough business is. All my adult life I have always earned a salary and I know what it is like when your salary simply is not enough. In every part of our nation people are making incredible sacContinued on page 8
How Emefiele’s Wife Was Rescued 1 kidnapper killed, 3 arrested, 4 on the run Adibe Emenyonu, Omon-Julius Onabu and Chiemelie Ezeobi Details of how Margaret Emefiele, wife of Central Bank Governor, Mr. Godwin Emefiele, was rescued emerged last night as security sources disclosed that she was recued at Ugoneki, a midway between Benin and Agbor, on Friday night. Her rescue was sequel to a directive by President Continued on page 8
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TOASTING THE TRIUMPH OF NIGERIA
L-R: President Muhammadu Buhari, Vice President Yemi Osinbajo, Senate President Bukola Saraki, and Chief Justice of Nigeria, Justice Mahmud Mohammed, during the 56th Independence Anniversary celebration at the State House, Abuja ...yesterday
WEEKLY PULL-OUT
ADESEGUN ONIRU
AN UNUSUAL PRINCE
02.10.2016