Nigeria’s Economy Has Taken A Nose Dive – Former World Bank VP...

Nigeria’s Economy Has Taken A Nose Dive – Former World Bank VP Ezekwesili

By Wires | The Trent on June 26, 2015
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FILE: Obiageli Katryn Ezekwesili, Vice-President, Africa Region, World Bank, Washington DC in Access to Energy held During the World Economic Forum on Africa 2009 in Cape Town, South Africa, June 12, 2009 | WEF

Oby Ezekwesili, the former minister of education, has compared Nigeria’s current economic situation to that of 1982 during the regime of ex-president, Shehu Shagari.

Daily Independent reports that Ezekwesili made the statement while presenting a public lecture at the annual public service celebration, which took place at Adeyemi Bero Auditorium in Ikeja, Lagos.

In her speech, delivered in June 2015, the former minister stressed that the situation surrounding the economic, social and political sectors is precarious. She also admitted that managing such situations would be really difficult for the government.

Ezekwesili recalled 1981 and 1982 years when Nigeria witnessed the same economic relapse as it is witnessing now. However, she expressed hope that the country would not suffer such situations again.

READ ALSO: #GoodNews: Nigerian Economy Named World’s 3rd Fastest Growing In 2015

“We have found ourselves in a situation where every sector is in a precarious situation. We are operating on uncertainty and it is most difficult.

“Our economy has taken a nose dive, and I ask how it is possible for Nigeria to find itself in this embarrassing situation. We are faced with similar economic conditions like that between 1981 and 1982 during the regime of former president Shehu Shagari.

“Nigerians must study history because people who do not study history risk repeating all the mistakes made in the past,” she stressed.

A week ago the former minister stated that she was poorer while serving in government. In a series of tweets Ezekwesili urged Nigerians to change their mindset of seeing government portfolio as an avenue to make money.

Meanwhile, President Muhammadu Buhari yesterday held a meeting with Nigeria’s governors. He promised  to return the funds stolen under Goodluck Jonathan’s administration, and “put the system back into the right position”.

Editor’s Note: This story has been updated to include the date when the speech was made and also a link to the original story in Daily Independent. 

(Hattip to Naij, Daily Independent)

3 COMMENTS

    • Like someone said recently “it takes one idiot to identify another idiot” but to be fair to you, the idiot is in the mirror before you.

  1. Like someone said recently “it takes one idiot to identify another idiot” but to be fair to you, the idiot is in the mirror before you.

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