Obasanjo explained that he warned Jonathan about spending more than the country’s earnings but his advice was ignored.
Former President, Olusegun Obasanjo has blamed the Goodluck Jonathan administration for the current economic crisis in the country.
Obasanjo explained that he warned Jonathan about spending more than the country’s earnings but his advice was ignored.
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.
President Muhammadu Buhari had earlier also blamed Jonathan for the recession saying that he did not inherit any savings from his predecessor.
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