Recession: Lawmaker Fingers Buhari

The lawmaker represent
ing Obio/Akpor federal consistency in the House of Representative, Hon Kingsley Chinda, has blamed President Muhammadu Buhari for the current economic meltdown in the country.
Chinda who spoke with newsmen in Port Harcourt attributed the economic recession in the country to the inconsistencies in the president’s administration, saying it has nothing to do with the administration if former President Goodluck Jonathan.
The lawmaker recalled that during the Jonathan –led administration, several countries, particularly in Europe were hit by economic recession, yet Nigeria was not affected, noting that the reason was because Jonathan administration has strong and sound economic policies that made investors confident of their expectations.
According to him, when the new government came on board, Buhari appeared as if nothing happened, even his cabinet was not constituted for over six months.
Chinda observed that even when some minister came up with their vision, Buhari was busy chasing political enemies, asking how would you expect investors to come to a country that was running without rule of law?, adding that people are arrested in the name of corruption without allowing the law take it course.
He noted that the President’s body language gave out a bad signal, which he explained discouraged investors, ‘ you are aware that in this country, this government came and said you cannot pay dollars in to your domiciliary bank account and people could not pay school fees of their children outside the country.
Additionally, he said it came to a time you cannot pay your hotel bills if you travel outside the country and this affected us.
Investors became worried and afraid such that everybody wanted to move his money outside Nigeria. It is repercussion for us.
He pointed out that need for President Buahri to adopt internally acceptable polices, that are transparent so as to assure investors safety of their funds and also to shun running the government of the country on propaganda.
He stated that every serious government must have available economic team in order to effectively run the economy and urged him to provide for the welfare of the people in terms of security of lives and property

Tonye Nria-Dappa