Posted by
Former President Olusegun Obasanjo on Tuesday stressed the need for Nigeria to borrow, spend less and earn more to get out of the current economicrecession.
Obasanjo said this in Abeokuta at the opening ceremony of the National Council On Finance and Economic Development Conference (NACOFED).
The theme of the conference is “Enhancing Revenue Generation and Obtaining Best Value for Money in Expenditure”.
According to Obasanjo, the major problem withNigeria is that “we are spending more than we are earning and we have not been able to save for the rainy day”.
He, however, proffered a three-fold solution of borrowing, spending less and earning more to the economic challenges of the nation.
Obasanjo, who said that funds were available outside the country, advised that Nigeria needed to approach its allies who could lend to the country on reasonable terms.
He warned, however, that no such nation would part with its funds without observing that Nigeria was taking practical steps to come out of its challenges.
The former president said that Nigeria must encourage production to earn more and increase its revenue.
He said since the nation was not in control of oil, it should therefore diversify and concentrate on the things it could control.
Obasanjo, who stressed the need to develop agriculture, frowned at policies which tended to turn the nation into a dumping ground for other countries’ products.
“I was shocked when the ban on importation of toothpick which we imposed in 1977 was lifted four years ago.
“How can a nation seeking to rank among the best in the world continue like that?
“We must begin to do away with things that we can do without and if we must import them, let them attract very high duties,” he said.
Obasanjo who backed the call for the sale of some national assets to raise money, described such act as natural.
The former president said port authorities and Nigeria National Petroleum Corporation (NNPC) were part of assets that Nigeria could partly sell to generate fund.
“I do not see why 49 per cent of NNPC cannot be privatised.
“I think the problem is in the coinage “selling of asset” as if we want to throw out our inheritance.
“What we are actually doing by that is simply re-organising.”
Gistfans do not claim ownership of any of the Songs and Videos that we upload and any copyright infringement complaints will be executed immediately! It is our policy to honor all take-down requests! Email Us via Gistfansofficials@gmail.com
If you believe that this page has violated your copyrighted/protected material(s), please kindly Contact Us for immediate removal, or mail us at Gistfansofficials@gmail.com stating the content name/URL of the page. Thanks.
To upload your music on Gistfans and get massive download, contact us now:
Whatsapp: 08095459350
Email: Gistfansofficials@gmail.com
| Article Name | Former President Olusegun Obasanjo Said, Nigeria Should Borrow, Spend Less & Earn More to Get Out Of Recession |
| Description |
|
| Author Name | Head Admin |
| Published On | 9/27/2016 |
| Post Category |
NEWS AND GOSSIP
|
![[Cheat] Get free 500MB on mtn free of charge to browse](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjv-adF-GvunVjNNj3ZnWkZJty1rN1rvUxuyv2wdTbaMMkn_BGwuuZPdFkqeYh_BkjNzQTB8N8Ozt74x6OuYJ2BAlE66KSa2qlTlTZJQx2Oyhh0gmAvblHYfPu3bfNS1QCGLZkhCmV1vTjo/w200/%255BUNSET%255D "[Cheat] Get free 500MB on mtn free of charge to browse")
After dropping your comment, keep calm, it may take minutes before it appears after moderation.
Your comment(s) are appreciated.
You want to get notified when i reply your comment? Kindly tick the Notify Me box.