The presidency in Nigeria has again said it will continue to hold a memory of Goodluck Jonathan administration’s mistakes to guard against repeating them.

It said the mistakes led to a glide of the nation’s economy into recession.

The presidency also enumerated efforts the current administration is making to reflate the nation’s economy that is in recession.

A spokesman for President Muhammadu Buhari, Garba Shehu, in a statement on Friday, said that while the government was doing its best to revive the economy, a fiery memory of the past must be kept to ensure that the mistakes of the past were not repeated.

Episodes From Jonathan’s Era

Mr Shehu said: “The future must of necessity be built on the foundations of the past.

“The Conservative Party took power in Britain six years ago from Labour. Check the British press, they are talking about Labour 24/7, is anyone complaining?

“People are still talking about who ran governments in 1865 (and) you want us to forget those who left government last year?”

“To avoid repeating the past mistakes, Nigerians must come to terms with what went wrong with the past, how bad were things, what was done wrongly, what the past government should have done, before we come to what needs to be done to right those wrongs.

“Believe me, episodes from the Jonathan era can fill books, and other possibilities such as courtroom drama thriller”.

One of the mistakes of the past which the presidency said must be avoided was what it called failure to save when crude oil price was high.

Mr Shehu pointed out that Nigeria “solely relied on oil, the price of which was as high as $140 per barrel. Government simply reticulated oil revenue through personal spending by corrupt leaders, wasteful expenses and salaries.

“This was done rather than investing in what would grow the economy”.

According to him, the development broke the nation’s economy, reminding Nigerians that “just as they do the broken leg, you must bear the pain of fixing it.

“The current situation was caused by years of mismanagement and corruption”.

On what the current administration is doing to address the economic recession, the spokesman for President Buhari said the government was making efforts to recover stolen funds, reduce cost of governance and increase spending on capital projects.

“Today, the current civilian administration is investigating military finance and accounts which the military could not do to themselves.

“The current administration is sanitising the huge salary bill by eliminating payroll fraud. So far, the federal payroll has been rid of about 40,000 ghost workers. More than eight billion Naira stolen monthly has been saved.

“We are also saving on wasteful expenses like First Class Travel and Private jets for official trips.

“The Federal Government is not limiting the reforms to the centre but forcing State Governments to reform their spending and build savings or investments.

“Government is also increasing spending on capital projects especially on infrastructure needed to make Nigerian businesses competitive and create jobs.

“The administration is at the same time blocking leakages that allowed government revenues to be siphoned into private hands,” the presidency said.

Mr Shehu said that the government was also focusing on key sectors (apart from oil) that could create jobs and generate revenue such as Agriculture, Solid Minerals and Manufacturing.

Economic Policy Of Present Administration

Responding to critics’ comments on the economic policy of the present administration, which they said was unclear, Mr Shehu claimed that “more than any other time before, there is a clear direction and strategy for achieving growth and development.

“Revisionists may not agree, but the truth of the matter is that the previous administration only had one issue, which was how to spend money (oil revenues and borrowed money). As mentioned earlier this spending was focussed on the wrong things and even though the economy seemed to be growing it was not sustainable, it was, as described by Minister Adeosun, a classic “boom and bust” driven solely by the oil price.

“Unemployment was and remained high (never forget the NIS jobs that exploited thousands of desperate graduates in a scam that was used to fund house purchases in high brow areas and claimed so many lives).

“Inequalities were growing (our then President boasted about the highest number of private jets when most Nigerians could barely afford to eat). Terrorism and social unrest were growing. Real development was lacking. As soon as the oil price fell, these vulnerabilities were exposed.

“From its records so far, this administration is trying to reset the Nigerian economy and ensure that it attains its potential and is diverse and resilient. We are doing this at a time when the global economy is in crisis due to the oil price collapse. Even rich nations like Saudi Arabia are experiencing problems

“The Government is people-focussed and wants the economy to grow in a way that will create a more stable future which is not dictated by world oil prices (over which we have no control). No more boom and bust (thanks Minister Adeosun).

“Nigeria wants to take responsibility for its own destiny, therefore our policies will ensure that Nigeria returns to growth in a sustainable manner. No more dependence on oil. Every part of Nigeria has a role to play in contributing to our growth. We will create an environment where people can thrive and where business can grow,” he highlighted.

Re-orientation Of Agencies

Reeling out further strategies of the government to revive the economy, the presidency spokesman said all relevant agencies had been reoriented to focus government’s spending on infrastructure which will create jobs and opportunities for Nigerians across a number of sectors (not just oil), ensure that the nation reduces reliance on oil by developing other revenue streams such as taxes, efficient customs collections and other government revenues and develop key sectors in which we have comparative advantage.

Other strategies he said were to encourage development of agriculture to ensure food security for our huge population, develop petro-chemical industry on the back of the oil industry, develop solid mineral extraction and develop light manufacturing to provide locally made basic needs and reduce importation.
Emphasising the current government’s drive to tackle corruption, Mr Shehu stated that the current pain Nigerians are facing is due to the mismanagement of the past. What Nigeria is currently experiencing was inevitable.

How Past Deceit Caused High Food Price

Part of the pain that Nigerians are feeling is the high cost of food items , a development that the president’s spokesman in his statement said was also caused by past deceit.

“For example, the previous government purchased fertiliser in 2014, worth 65 billion Naira and left the bill unpaid.

“In 2015 the suppliers could not supply fertiliser which resulted in a low harvest, shortages and high food prices.

“This government had to pay off the debt so that the suppliers could begin to supply fertiliser again.

“Across Nigeria a green revolution is occurring as Nigerians are going back to the farms, from rice in Kebbi and Ebonyi to Soya and Sesame in Jigawa and Kano.

“At the same time Nigerians are looking inwards to identify commercial opportunities from agri-businesses,” the statement read.

He further urged Nigerians to endure the pains of the economic recession, saying that “any process that will endure, must involve some pain but things will begin to improve.

“There is always a time lag between policy and effect. That is why the bad effects of past policies are manifesting now, he said assuring Nigerians that the positive impact of the work being undertaken to fix Nigeria’s problems would soon begin to show.

“We will emerge from this period stronger, wiser and more prosperous.

“There is hope for Nigeria, a hope that was previously clouded by corruption, greed and lack of focus.

“Nigeria is starting over and everyone has a role to play. Look back, look ahead,” he added.


http://www.channelstv.com/2016/09/30/shehu-explains-why-presidency-refers-to-jonathan-administrations-mistakes/

Lalasticlala oga seun and other mods where una dey. Mynd44 fp please cc happney65

Worst govt ever...

The Buhari regime has been the greatest mistake that has ever befallen this country second only to the amalgamation of 1914.

Good explanation!!!

Very apt explanation for sane minds and minds devoid of sentiments.

We have to know and keep in memory the cause of our problems so that we dont fall back into them.

Wailers; its is done! Oti jina!

I think the government is either hiding something or they are not telling us the truth.

[quote author=jerusalem101 post=49803434]I think the government is either hiding something or they are not telling us the truth. [/quote

Don't mind the fools they think every1 is a zombie]

Even though I get the point the presidency is trying to make it does not still deny one very noticeable fact about them.....









Una like blame sha!

The APC government is clearly built on lies and propaganda. GEJ's silence to all matter arising is golden.

We know where GEJ left us and where Buhari has taken us.

Hypocrisy is when you condemn Buhari for condemning GEJ but you want the former to acknowledge the latter's unfinished project(s)
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History present politics and politics present history, you cannot separate the past( whether good or bad)from the present and vice versa.

GoodofNaija:
Good explanation!!!

Very apt explanation for sane minds and minds devoid of sentiments.

We have to know and keep in memory the cause of our problems so that we dont fall back into them.

You mean apt explanation for gullible insanely irresponsible minds. I guess that's what you meant. If you keep believing things like this and can be easily cajoled this way, I just wonder... Seriously wonder

It's been 1 year and 4 months. The populace want and need to see real change and developments. The government should concentrate on taking steps to rejunevate the economy with clear policies. Only interested in the part that states what steps are been taken to alleviate the present situtation. That's what is important to us.

I have blamed jonathan today, what about you?

Useles govt

Buhari go talk...shehu go interpret give us..
This men sef
They take us the learn work... 19 no far again..nansense.

omolola15:
Lalasticlala oga seun and other mods where una dey. Mynd44 fp please cc happney65

omolola my guy..I like you so much,But I dont know why you think this way when it comes to Buhari..Habaaa...This country has done more for Buhari than Buhari has done for this country.This country has consistently fed Buhari for more than 60 years yet we get recession from him, arrests without trials, nepotism, threats, lies, starvation, wars etc. It was he who promised to lead from the front, now he sits at the back of presidential jets while herds men loot, rape, kill and plunder. How can you keep on blaming and blaming?Hunnnnn..I have asked you what Obasanjo should have done when we had massive looting by the same Military that Buhari spearheaded and destroyed the democratic regime of Shagari..I mean this is our History,But you wont make mention of that..I forgot you never did History...He has kept on Blaming and Blaming,The same thing he said to the Shagari dispensation...

A man who didn't engage himself in any intellectual development for 30 years save for sharia and 150Cows. Buhari insulted our common senses by refusing to appear in the presidential debate but went to London to debate the whole country at Chatham house. Buhari threatened to pull out of the peace process during the election so that we would experience 2011 again. A So-called anti corruption crusader that was feeding off proceeds of corruption including flying their private jets and taking pictures in them...He is the worst president Nigeria ever had after Abacha..

By the way,Should we ask for China trip refund or we should wait for Yuan swap?Scam of the century...Dollar is 500 today.. E ku orire..Too Bad for my Guy...SMH