Former Vice-president of Nigeria, Atiku Abubakar has reacted over Nigeria going into recession again. He said Nigeria needs to stop borrowing money in order to avert further recession in the future.
Atiku shared some posts on his official Twitter account, where he expressed concern over the recession that struck the nation. He also gave ideas, suggestion and adviced the leadership on what to do to break free from this recession.
““We Must Exit This Recession With Precision. It is with a very heavy heart that I received the confirmation that for the second time in five years, #Nigeria has entered into another #recession.””
““Heaviness of heart, because this could have been avoided had this administration taken heed to patriotic counsel given by myself and other well meaning Nigerians on cutting the cost of governance, saving for a rainy day, and avoiding profligate borrowing.””
““Yes, the COVID19 pandemic has exacerbated an already bad situation, however, we could have avoided this fate by a disciplined and prudent management of our economy.””
““Be that as it may, it serves no one’s purposes to quarrel after the fact. We must focus on solutions. Nigeria needs critical leadership to guide her back to the path of economic sustainability.””
““We cannot afford hand wringing and navel-gazing. We must act now, by taking necessary, and perhaps painful actions. For a start, the proposed 2021 budget presented to the National Assembly on Tuesday, October 8, 2020, is no longer tenable.“”
““Nigeria neither has the resources, or the need to implement such a luxury heavy budget. The nation is broke, but not broken. However, if we continue to spend lavishly, even when we do not earn commensurately, we would go from being a broke nation, to being a broken nation.“”
““Until our economic prospects improve, Nigeria ought to exclusively focus on making budgetary proposals for essential items, which include reasonable wages and salaries, infrastructural projects, and social services (citizenry’s health, and other human development investments).“”
Atiku also on President Muhammadu Buhari to cut down the cost of governance and heed to the wise counsel given to him.