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Why Nigeria lost productive capacity – Shonekan

By Daniel Idonor

ABUJA – FORMER Nigeria’s Head of Interim Government, Chief Earnest Shonekan, Monday lamented that due to  lack of consistency and proper planning by successive governments in Nigeria in the past, the country has lost its productive capacity and its competitiveness.

Speaking in his capacity as the Chairman of the occasion at a Presidential Retreat on the 1st Implementation Plan for Nigeria’s Vision 20:2020,the former Nigeria leader stated the resultant effect of the maladministration in the past has been significant decline in the living standard of the citizenry.

Chief Ernest Shonekan(right) with Gen. Ibrahim Babangida during the Council of State meeting held recently in Abuja.

According to him, “there is clear evidence that two related factors have contributed significantly to this unhappy situation. One is the almost total abandonment of systematic and consistent planning in the management of our economy”.

As a result of this, Chief Shonekan disclosed that “it is therefore not surprising that over the past 30years our economy has continuously lost its productive capacity and its competitiveness and the living standard of our citizens has declined”.

“One of the paradoxes in our country’s development history, Mr. President is that despite the indisputable and widely acknowledged potential for strong and sustained growth capacity of our economy and the incontestable resourcefulness of our people, the vast majority of our citizens have continued to remain in abject and unacceptable poverty”.


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