The Bad Economy Was Inherited

The President of the Federal Republic of Nigeria, Muhmmadu Buhari, has bitterly asserted that the bad economy that Nigeria is experiencing today was inherited by the former administration. President Buhari made this statement yesterday and added that the economy was in a shambles amid widespread corruption and inadequate management of the commonwealth which led to a drop in crude oil prices in its exportation.

According to him, the present administration and its party was handed a zero treasury, rickety infrastructure and evacuated foreign reserves. As a result of these, the government faced food import dependency, limited capital, long-standing active revolts and rebels, non-maintenance of adequate payment of salaries and pensions to the workers and to the pensioners.

Strategies that We Employed;

In a quest to rectify all these, the present administration employed many strategies, among them is the ERGP – Economy Recovery and Growth Plan, Buhari Said. This plan led to structural reformation which has its goal as diversifying the economy in order to sustain a long term growth all over the nation. Other plans, which are numerous, helped in the reformation of the nation.