Economy: Obasanjo blasts Buhari, NASS

24-11-2016 

The honeymoon be­tween President Muhammadu Bu­hari and former President Olusegun Obasanjo seems to have ended.

For the one and a half year that Mr. Buhari has been in power, Mr. Obasanjo remained one of his staunch­est backers, visiting him re­peatedly and publicly de­fending most of his actions.

 

But speaking in Lagos Wednesday, Mr. Obasanjo served signal that the era of being soft on the administra­tion Mr. Buhari leads is over.

Delivering the keynote at the First Akintola Williams Annual Lecture, Mr. Oba­sanjo lashed at the Buhari administration for repeat­edly lumping the country’s three previous administra­tions (including the one he, Obasanjo, led) together and then accusing them of mis-governance.

 

 According to online medium, Premium Times, the former president also advised Buhari to stop dwelling on the past, say­ing since he was elected to change the country, he should concentrate on clearing the mess he inherited.

“Now that we have had change because the actors and the situation needed to be changed, let us move forward to have progress through a com­prehensive economic policy and programme that is intellectually, strategically and philosophical­ly based,” Obasanjo said.

“It is easier to win an elec­tion than to right the wrongs of a badly fouled situation. When you are outside, what you see and know are nothing com­pared with the reality.

“And yet once you are on seat, you have to clear the mess and put the nation on the path of rectitude, development and progress leaving no group or section out of your plan, pro­gramme and policy and efforts. The longer it takes, the more in­tractable the problem may be­come.”

The former president also criticised plans by President Buhari to take about $30 bil­lion loan.

“I am sure that such a com­prehensive policy and pro­gramme (that will move Nige­ria forward) will not support borrowing US$30 billion in less than three years. It will give us the short, medium and long-term picture.

“Adhocry is not the answer but cold, hard headed plan­ning that evinces confidence and trust is the answer. Econ­omy neither obeys orders nor does it work according to wish­es. It must be worked upon with all factors considered and most stakeholders involved.

“The investors, domestic and foreign, are no fools and they know what is going on with the management of the economy including the for­eign exchange and they are not amused. The Central Bank must be restored to its independence and integrity. We must be care­ful and watchful of the danger of shortermism.

“Short-term may be the en­emy of medium and long-term. We must also make allowance for the lessons that most of us in democratic dispensation have learned and which the present administration seems to be just learning.”

The former president did not spare the National Assem­bly which he says stinks to high heavens and the Nigerian mili­tary, which he said needed to be purged.