‘Nigeria Is Poor’ – President Muhammadu Buhari

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President Muhammadu Buhari has blamed Nigeria’s economic downturn on a sharp downturn in the price of crude oil on the international market.

The President spoke while receiving the United Nations Population Fund’s Executive Director and Under-Secretary-General of the United Nations, Prof. Babatunde Osotimehin, at the Presidential Villa.

“It has been a very difficult year for Nigeria. Before we came to office, petroleum sold for about $100 per barrel. Then it crashed to $37, and now oscillates between $40 and $45 per barrel.

“Suddenly, we’re a poor country, but commitment to transparency and accountability is not making people know that there is severe shortage,” the President said.

Nigeria is on the verge of an economic recession and is no longer Africa’s largest economy following a recalculation of both countries GDP by the IMF.

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3 COMMENTS

  1. I think dis aboki should just resign. He’s just fooling him self not Nigerian, I was 1 of is greatest supporters but he av failed woefully he is a ram 4 making dat statement. APC re liars ND deceivers I thinks is time 2 send dem back were dy came 4rm dy re all useless ND muderfuckers.

    • Who failed woefully? A man who has only been there for a year and doing his utmost best to salvage the situation, or a party that spent 16 solid years and did their utmost best to bring Nigeria to its knees? Better remove your biased goggle and put your thinking cap on. Granted that temporary suffering is not palatable, but that is the price we have to pay for not allowing him to conclude his work in 1984.

  2. When former President Olusegun Obasanjo was a military ruler in the 19, Mr Buhari held the key post of minister of petroleum affairs. Relations between the two former generals may now thaw following what seems to be an endorsement for Mr Buhari from Mr Obasanjo in his recently released autobiography.

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