Tension as Obasanjo’s Ally destroys Buhari with harsh words

By Post Nigeria April 30, 2016 16:30

Tension as Obasanjo’s Ally destroys Buhari with harsh words

At a time economic pundits are questioning President Muhammadu Buhari’s contradictory economic policies, which according to them have brought untold hardship on the populace, a former Ally to ex-President, Olusegun Obasanjo, has also joined the bandwagon.

According to the social critics and campaigner Bring Back Our Girl Group, Oby Ezekwesili, who served under Obasanjo’s regime as‎ Minister of Education‎, Buhari’s current economic policies are similar to those he promulgated during 1984 military era.

It could be recalled, that the Chairman Lagos Business School, Professor Pat Utomi, had in February affirmed that the economy under Buhari was in severe distress and needed urgent clear cut economic blueprint.

Related:‎ Nigeria is facing a national economic disaster – Pat Utomi

An Abuja based Developmental Economist, ‎Katch Ononuju, had also accused the Central Bank of Nigeria, CBN, of trying to deceive members of the public by merely moving Monetary Policy Rate from 11 percent to 12 percent which has no significance improvement in the life of an average Nigerian.

Reated:‎ Ononuju exposes CBN’s economic tricks and deceit

Due to the lingering economic crisis, with over 2 million Nigerians reported to have lost their jobs, aside the daily hardship the masses are subjected to, some angry Nigerian youths had vowed to uproot the All Progressive Congress, APC, from the centre come 2019.

Also, the Nobel Price Winner, Wole Soyinka, who in his latest article berated Buhari on his long silence over Fulani herdsmen attacks, had in February called for an emergence economic summit to salvage the situation

Related: Wole Soyinka cries for economic help

Ezekwesili not happy with the President’s approach on Saturday, April 30, at ‘The Platform’, a yearly public policy forum that is currently underway in Abuja, took Buhari to the cleaners.

She said, Buhari’s “archaic” and “opaque” economic principles were not only encouraging massive corruption and abuse of power, but also hurting the poor which they were intended to help.

‎While likening his administration with his Previous Military rule, she said, “During the first coming of this our new president, a command and control economic system was adopted.

“During that era, inflation spiralled. During that era, jobs were lost. During that era, the economic growth level dipped,”

“That era wasn’t the best of eras in economic progress.”

“What did not work in 1984 cannot possibly be a solution in a global economy that’s much more integrated.

“In over one year, the president is still holding to the premise that command and control is the only way out.

“In a year we have lost the single digits inflation status we maintained in past administrations.”

Related:‎ Nigeria’s inflation rate hits record high under Buhari

On the nation’s foreign monetary policies, ‎she said Buhari’s distorted foreign exchange system has left the poor it was intended to support even worse off.

“The president comes into this economic philosophy on the premise that he does not want the poor to suffer.

“I can relate to that, a leader must, especially a leader who knows that most of his votes came not from the elite, but from the poor.

“The weakest and the most vulnerable suffer the impact of inflation the most. Enormous power is being abused as a result of opaque economic policies.

“Companies are suddenly finding themselves unable to produce, because they are unable to access foreign exchange,” Ezekwesili said.

Related:‎ Why Ghana has become our only option – MAN

She however, urged Buhari to stop junketing about and sit down with his administration officials and reconsider the impact of his polices.

“Mr. President should sit with his team and look at the economic evidence that speaks loudly.

“It’s time to sit back and review the well-intended idea of command and control economic principle,” Ezekwesili said.