Recession: FORMER Lagos State Governor and National Leader, All Progressives Congress, APC, Asiwaju Bola Tinubu, has said that the economic recession the country is going through requires sacrifice from all Nigerians to see the country through.
Speaking at the Chartered Institute of Stockbrokers’ investiture of its President, Mr. Oluwaseyi Emmanuel Abe, on Wednesday night in Lagos, he said Nigeria is blessed with both human and natural resources, which it can properly harness to come out of the recession.
The APC leader also spoke on the significance of electricity in driving economic development, recalling how Lagos State invested in private power project during his time as governor.
Also speaking at the event, former Vice President Atiku Abubakar, said the country should rely on taxes and not oil, arguing that Nigeria’s biggest problem is addiction to oil revenues. He decried the belief that the country is doomed “unless oil flows and oil money fills the Federation Account for our tiers of government to share.”
At the investiture, former AMCON CEO, Mustapha Chike-Obi, spoke on the theme “Nigeria’s Economy: Growth, The Only Imperative.”
In his presentation, Chike-Obi urged the country to borrow to finance specific capital projects, saying the fact that borrowing was misused in the past does not mean borrowing as an economic option is wrong.