The Emir of Kano, Alhaji Muhammad Sanusi, on Wednesday attributed the current economic recession in the country to inability of the past administrations to diversify the economy.

He made the remark while delivering a lecture at the ongoing 15th meetings of the Joint Planning Board and National Council on Development Planning in Kano.

He said there was urgent need for the country to return to the drawing board and expand the economy through wise investment for the economic growth and development of the country.

“If we do not expand the economy through wise investment, we can end up in classical Malthusian situation.

“If this government continues to behave the way the past government behaved, we will end up where Jonathan ended.”

He said in a situation where one sits down with a telephone call to make one billion Naira without investing a single Kobo, that system is wrong and unsustainable.

He lamented that in spite of the past experiences we had on our socio-economic challenges, the country was still making the same mistakes as we cannot process tomato paste.

“In a situation where we cannot process tomato. Tomato paste is being imported from China. It is sad.”he said.

The title of the paper is: Nigeria In search of new growth model. (NAN).

http://www.vanguardngr.com/2016/08/economic-recession-blame-past-administrations-sanusi/

K

Naija the only country intellects behave like zombies because of tribal sentiment.

Is only a fool zombify person will blame his past government for his conscious predicament after one year in office.

k

Are they still blaming the past after one year in office?

Was this man not part of the last administration? This people dun blame blame wey be say dem dun dey unknowingly blame themselves. Smh.

This man is unstable in his ways. It is impossible not to blame the past govt.
They ensured all the savings from older govt were depleted and sustained a debt run system before handing over.
For those shouting Buhari and political parties, In reality govt does not force the masses to buy foreign made good or get foreign services. The masses make their choices, either consiously or subconciously. In economics it is called "inelastic demand" becos the govt can't control it. As people continue to ask for more foreign goods they pass on part of the wealth in our system to foreigners who are far less likely to pass it back because we hardly produce what they use and we do, it can't competes with their own local options. The key to economic transformation lies largely with the masses' choice of consumption and production attitude or mentality. Where the past govt failed was in the area of providing suitable environment for production.

Angelparadise:
Is only a fool zombify person will blame his past government for his conscious predicament after one year in office.

The past admin is to blame. Only foóls won't realize this. If with record earning they couldn't diversify the economy how do you expect the current admin to do that with a system of deficit in earning? Even in individual endeavour one needs money to start and run anything.

Sanusi you are part of passed administration problem

My pig's name is Sanusi.