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No confidence in Nigeria economy under Buhari govt, gains recorded in the past have been frittered away over the years – OBJ.

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Former President Olusegun Obasanjo has said that the President Buhari-led government is driving Nigeria towards “disaster and instability”.
Obasanjo said this in an exclusive interview with Premium Times at his Ibogun Olaogun ancestral home in Ifo Local Government Area of Ogun State, last month.
The former president fell apart with Buhari ahead of the 2019 general elections and endorsed the president’s closest rival and his estranged vice president, Atiku Abubakar.
Speaking during the interview, Obasanjo noted that although the country has made considerable progress since the new dispensation began in 1999, the pace at which it is currently moving shows the nation may be inching towards disaster and instability.
“I think we have no choice but to be on the path for sustainable development. The progress we are making may be questionable Is it fast enough? Is it steady enough? Is it stable enough? Are we taking two steps forward and one step back or one step side-way?
You can question that, but we have no choice but to be on (the) path for sustainable development. Any other thing will be a disaster. In fact, the pace at which we are going now is tending more and more toward disaster and instability and unsustainability.

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No Confidence in the Economy’ The former president argued that there is no confidence in the Nigerian economy today. Rather, he said, the gains recorded in the past have been frittered away over the years.
Speaking on what went wrong, the former president explained that Nigeria has failed to do what is right to instill confidence in domestic and foreign investors. The ripple effect of the nation’s indecision, he said, manifests in the state of the economy. Nigeria slipped into recession in 2016 after several contractions in the economy, amidst an unstable naira and rising inflation rates. By the second quarter of 2017, the nation slipped out of recession. Although the government claims that the nation has been put on the path of sustainable growth, unemployment figures have also ballooned within the period.

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Jake Clifford

Jake Clifford is a Nigerian Born blogger and a fast growing Journalist, whose aim is to inform Nigerians with happening across Nigeria. Send story tips to him via [email protected] or

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