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30 Sep 2016

Tinubu: recession requires Nigerians Sacrificea

ALL Progressives Congress (APC) stalwart Asiwaju Bola Tinubu has said that Nigeria needs the sacrifice of all to overcome the prevailing economic recession.

 In a brief remark at the investiture of the Chartered Institute of Stockbrokerss (CIS’) President, Mr. Oluwaseyi Emmanuel Abe, the former Lagos State governor noted that Nigeria is blessed with both human and natural resources, which, properly harnessed, will take nation out of the recession.

Tinubu spoke also on the significance of electricity in driving economic development, recalling how Lagos State invested in independent power project to generate electricity during his time as governor.

Also speaking at the event, former Vice President Atiku Abubakar said the country should rely on taxes and not oil. He identified addiction to oil revenues as the country’s biggest problem.

He decried the belief that the country is doomed “unless oil flows and oil money fills the Federation Account for our tiers of government to share”.

At the investiture, former AMCON Chief Executive Officer Mustapha Chike-Obi, spoke on the theme: “Nigeria’s economy: Growth, the only imperative”.

Tinubu described Chike-Obi as one of the best economic managers the country has ever produced.

In his presentation, Chike-Obi urged the country to borrow to finance specific capital projects, saying the fact that borrowing was misused in the past does not mean borrowing as an economic option is wrong.

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