Blame IBB for Nigeria’s economic recession – FG
Latest NewsAug 9, 2016

EUCLID MYKE, Abuja

THE Minister of Agriculture and Natural Resources, Chief Audu Ogbeh yesterday revealed that the present economic crunch and near recession currently ravaging the country was created during the regime of former  military President Gen. Ibrahim Babangida.

The minister who was speaking in a special town hall meeting organized by the Ministry of Information in Collaboration with The Alumni Association of The National Institute (AANI) in Abuja maintained that the present economic woes could be traced back to the Structural Adjustment Programme (SAP) introduced during the administration of Babangida.
Ogbeh further declared that government is aware of the degree of hardship that is ravaging the country and is working on a progressive and sustainable path to ensure that the economy recovers as soon as possible.
He said, “We have heard of terrible stories of parent using their children as collateral for food without intending to get them back. All these we heard. The present situation didn’t just happened, it was bound to come and I can say it is dated back to 1986 when we adopted the Structural Adjustment Programme (SAP), Ogbeh insisted.
Taking his audience through the memory lane, he explained that although many right thinking Nigerians and crack economists were opposed to the adoption of SAP, the IBB government paid deaf ear to all explanations, insisted and foisted SAP on Nigerians to cushion the effect of the International Monetary Fund, IMF loan which he had earlier obtained and the consequent devaluation of the naira upon which the loan was granted by the Fund.
Ogbeh disclosed that while other developing countries like Indian and Malaysia rejected the move, it is evident that they are better for it as they have become food sufficient nations and industrial tigers while Nigeria is still heavily food and technology dependent and spends as much as $20bn annually on food importation.
However, Ogbeh said that on assumption of office, the Muhammadu Buhari government met a lot of defective policies and challlenges from the previous administration, saying that government decided to deepen and change some of these policies so that the economy will regenerate.
In the agricultural sector, the minister said that government has invested heavily in agriculture through procurement of improved seedlings and through subsidy on fertilizer so that there will be improved yield while adding that government is committed to the establishment of ranches to improve meat and milk yields from cows as well as eliminate farmers and herdsmen persistent clashes.
He said, “We are about to restructure the Bank of Agriculture, every farmer would be a shareholder, we want to bring the interest rate to as close to 5% because we have to decide what we eat, people would criticize us for that, but that is what they do in Europe, there is no European country where interest rate are higher than 3.5%. to Agriculture.
 “We embarked on the new soil map of this country, which has produced new blend of fertilizer; I want to ask everyone of you here never ever to go to your farm and apply MPK 15, 15, 16 no piece of soil in this country can absorb it, you are destroying the soil and diminishing your yield. It would soon be published in a booklet for every Nigeria to have the kind of fertilizer suitable for all crops in all state of the Federation”. Source: http://www.championnews.com.ng/blame-ibb-for-nigerias-economic-recession-fg/

So, why not PROBE him for sleeping with your first wife while in JAIL?
Oga VENDATTA!
You go soon discover Mwanga PHOCK!

Muchechechecheche. !!!!

So its now IBB. Very soon they will blame Shagari then Murtala then Nzeogwu et al then Balewa up to Lugard. Incompetent people leading Nigeria and some fools will still support this government.

He will soon blame Lord Lugard.

Fo0ol !

Every Zombie supporting these buffoons in this present destitution will be settled by karma

I have never seen a shameless government like this buhari government before.

Did they not know that Nigeria had all these problems before they promised changes?

This government will continue to blame others until we see 2019 staring us in the face.

With the way things are going I am wondering if Nigerinas can wait till 2019 before sending Buhari fleeing from Aso Rock.

IBB said that he sacked Buhari because there was so much frustration in the country back then.

The frustration now is more than ever witnessed before.

Should we start praying for God to raise another IBB or what?

Lalasticlala

.It's IBB's turn now-so oga what say ya? Waiting for the day Buhari will shift the blame to his deluded zombies then finally himself.Nigeria O ma she o.

even Lord Lugard go don dey shiver in his grave....

I'm almost 100% certain that this APC government will be massively booted out come 2019 except if they rig ( almost certain they'll attempt to rig).
My only problem is just the 4 years Nigerians would have wasted during this government.

Only idiats do not knw that the problems in Nigeria started with IBB..

People were seriously enjoying each other while corruption was the order of the day... Nobody was checked...

Everything was subsidized and waivers were made available to his cohorts...

During IBB's tenure, the industrialization of Nigeria was grounded... Texile industries, rubber, steel, paper mills etc all closed up because cheaper ones flooded the market due to excessive importation all subsidized for the masses who were buying in cheap and rejecting the locally made but not oblivious of the consequences.

Devaluation of the naira made foreign companies come into the country only to siphon our wealth... Companies will cart away our raw materials and take it to their countries to process then bring back here to package... Cadbury, Coca-Cola, etc never process their raw materials till today...

IMF loans were taken and retaken without any effort to pay back...introducing the foolish SAP policies and so on...

By the time he left... The mess was still lingering.. And Abacha didn't help matters... His own was to just loot and loot... Though he stopped subsidies of some of the imported things and things become so hard for the masses... Same as today...

The reason for the hardship is because no govt ever tried to make us independent... We are used to subsidies...

Only people who did inter-rel and economics knew these...

I hope we clear this mess once and for all...

And the blame game continues with no visible effort to restructure and move this country forward.... Crass ineptitude at its peak

This FG executive council is filled with incompetents.

All they have been doing is blaming past govts for current hardships.

We as Nigerians don't give 10 fukkkS who caused anything.

What we want to know is what are u people doing to correct the situation?

....crack economists and other well thinking Nigerians kicked against the S.A.P but IBB paid deaf ears to it,in dsam vein well meaning Nigerians r kicking against buhari's policies but he has equally paid deaf ears to................

Could this be a northern style of ruling?

As at last count, they have blamed almost everybody including GOD. These people are nothing but multidimensional failures.

Somebody wake me up when he blames Nnamdi Azikiwe and Tafawa Balewa.

This is the kind of government Afonjas almost lagoon the 5% for.

Afonjas are truly sufferiscated

bukifemi1:


He will soon blame Lord Lugard.

Fo0ol !

buh Lord Lugard should really be blamed na

One chance tinz! Everyone is to blame but Buhari the saintly Messiah. Change and sai baba agents a.k.a. zombies! Maka una come worship una master as usual.

The foolish, daft idiots knew there were problems, they campaigned and claimed they were d only people capable of changing Nigeria to heaven on earth. Now all they know to do is mark time and blame dia papa n mama dem. This is so disgusting! I can't believe this madness was clear to well-thinking Nigerians who shouted themselves hoarse to prevent having calamity as President. Yet d so called majority had their way and today here we are.

If these people alway read News, by now they would have realise that Nigerian are tired of all this blame game. Why can't they fucos on hw to revamp d economy for d benefits of d citizens who are sinking into poverty everyday.