A former Minister of Education, Dr. Oby Ezekwesili, has said that there are no quick fixes to the current economic crisis in the country, just as she advised against unwise borrowing by the Federal Government.
The ex-minister was reacting to the suggestion by some Nigerians, prominent among them Senate President Bukola Saraki and Aliko Dangote, for the FG to sell off some of its national assets to raise much-needed to cushion effects of economic recession.
In a series of tweets yesterday, Ezekwesili said “It seems that the default instinct of our political class is ‘Sell and Spend’. Sell oil. Spend. Oil fails? Sell assets. Spend. WON’T WORK!”
The former World Bank Vice President (Africa), who advised managers of the economy to resist what she termed ‘wonderful’ chorus by politicians to sell national assets, noted that there are no easy options as far as getting Nigeria out of economic recession.
https://twitter.com/obyezeks/status/778616804239372288
Earlier, she blamed the President Muhammadu Buhari administration’s mix of delays, uncertainty and wrong policies for the worse situation of the economy.
Other times this country went a-borrowing, what followed was a-sorrowing. By all means, borrow to stimulate and RECOVER Growth BUT BE WISE!
— Oby Ezekwesili (@obyezeks) September 21, 2016
https://twitter.com/obyezeks/status/778576999103201280
This FG was handed a LEMON package by the former but it worsened that heritage by a mix of DELAYS, UNCERTAINTY & WRONG POLICIES. #Recession
— Oby Ezekwesili (@obyezeks) September 21, 2016
I am not one of those that think this FG does not have "Bright Lights" on its Team & I've said so before. It does. But THEY MUST DO BETTER!
— Oby Ezekwesili (@obyezeks) September 21, 2016
Economy can't get back to the High & Sustainable Growth rates necessary for wealth creation &poverty reduction w/o MACROECONOMIC STABILITY.
— Oby Ezekwesili (@obyezeks) September 21, 2016