Skip to main content

Olisa Agbakoba's views - NIGERIA’S RECESSION MAY LAST TILL 2020 IF…

Olisa Agbakoba

Former president, Nigeria Bar Association (NBA), Mr Olisa Agbakoba, has said recovery from current economic problem is possible by second quarter of 2017 with vigorous implementation of a new economic model, adding that otherwise, recession cycle might last till end of 2020.
This was as he countered that the country is rich and that President Muhammadu Buhari needed to bring on board people with expertise who know how to create money through application of necessary fiscal policy.
“Recovery path is possible by Q2 2017 with vigorous implementation of a new economic model, otherwise recession cycle may extend up to Q4 2020,” he said
Agbakoba said this on Tuesday, at an interactive session with journalists in his Lagos residence, even as he lamented that the Federal Government was totally disconnected from the rest of Nigerians, as it appeared not to feel the pains the masses were going through under the ongoing economic crunch.
“But we have to have the confidence that those who are making us go through pains are also going through pain. It’s got to be reciprocal. But if we are going through pains, I don’t know why they smile at the Federal Executive Council (FEC) meetings. I don’t know why they smile, it is a wrong impression.
Indeed, what are they smiling about? Our hardships and sufferings?

“We are looking at them on TVs, in the papers, they need to get real, they need to come down to earth and feel the pains that we are feeling, because it is only we are feeling the pains.
“If they feel the pain like most of us are feeling it, they would get real. But a lot of them don’t know what the pain the masses are going through because they are served free food,” Agbakoba lamented.
According to Agbakoba, who is also former chairman, Campaign for Democracy (CD), the problem the government was having now was borne out of the fact that they were looking at the mere liquid cash available to the country, whereas “Nigeria is blessed with a lot of natural resources buried beneath the surface of the earth.
“So do you know the amount of bitumen lying under Ondo? Do you know we are standing on money, but the money we have is not in liquid? That is the problem, they are thinking of liquid cash,” he said.
According to the former NBA boss, “fundibility and securitisation” is about selling upfront the country’s assets to get money to do whatever what intended to do, expressing confidence that China, being one of the largest consumers of crude, would be ready to buy the product upfront from Nigeria.
“The Chinese are gulping crude oil like mad. You can say to them, give me $50 billion and I will sell oil to you, that makes it. Do you know the amount of experts we have in this country. We are under-utilising this country, the country is a giant,” he added.
Speaking on the cost of governance which the Buhari-led government promised to reduce, Agbakoba said such promise was yet to be fulfilled.

Comments

Post a Comment

Popular posts from this blog

A Challenge to The African Leaders (Nigeria's Example)

"Be a gift to everyone who enters your life, and to everyone who’s your life you enter. Be careful not to enter another's if you cannot always be gift (you can always be a gift, because you always are the gift-yet sometimes you do not let yourself know that)" . This quote was culled from the Conversation with God: Uncommon Dialogue. Volume 2 by Weale Donald Walsch ! The life we found ourselves in is a gift, we are a gift, I am a gift and your belief is what can make you a gift if you allow your faith to manifest! Since I discovered myself to be a gift to the world, I have been threading the path of positivism always! From the spirit of given wholeheartedly to the process of helping the helpless in whatever capacity I can! This process leads to why I will always be wondering why African leaders accumulating the wealth meant the entire populace for their personal use. There are times I think the gauntlet of truth must be unveil, alas there is no resources that star...
Post a Comment
jump break

"WHEN A LOSS IS A VICTORY" - By Dr. Wladimir Klitchsko

At the end of April I competed against Anthony Joshua , and thereby took on the greatest of all challenges: In front of 90,000 spectators in a sold-out Wembley Stadium in London – as well as a TV audience of millions in more than 150 countries – I fought the fight of my life against the 28-year-old Englishman. I competed to conquer the best of the best. Sadly, I failed to achieve my goal. The outcome was that my opponent won the fight. But despite this, and however absurd it may sound, I also left the ring victorious. In the run-up, I was 100 percent certain that I would win the duel. I had prepared as well as I could and felt I was in the best form of my life; winning back the title of World Champion was my obsession. I gave it everything during the fight. I managed to get up several times after being knocked down. I was even able to send my opponent to the canvas. But, in the end, it was Anthony Joshua who struck the decisive blow and left the ring victorious. I failed to ...
Post a Comment
jump break

Shujaa Ernest Graham- A Rare Gem!

By profiling a man like Shujaa Graham; I am just wondering where can we find a matching example here in Nigeria? What we are witnessing today, are just self-serving leaders, who are hellbent on trampling the common man's rights without blinking! We wakes up to lots of empty promises and all they preach is patience! Chief Obafemi Awolowo, of blessed memory spoke about the decay of public affairs, a year after independence! What was the reaction? It is rhetorical when many unanswerable questions are what we could tenders to the incoming generations! Say No To Injustice! Say No To Racial Segregation!! Together we can make the world a better place to live in!!! Happy reading! A man who has shown by example that you can stand up for what you believe, and be victorious if you stand up for what you believe. Shujaa Graham was born in Lake Providence, LA, where he grew up on a plantation. His family worked as share-croppers, in the segregated South of the 50s. In 1961, he ...
Post a Comment
jump break