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Jonathan Finally Joins APC? Here’s What We Know So Far - The Cable / Nigeria Heading Into Worst Recession In 30 Years –IMF / APC Propaganda Destroyed Nigeria's Economy, Caused Recession - Jonathan (2) (3) (4)
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President Jonathan Finally Reveals What Caused Recession In 2016 by odeh1(m): 8:42pm On Nov 21, 2018 |
Goodluck Jonathan has stated that
Nigeria's economy slipped into
recession after he left office because of
the "Malicious Propaganda" deployed by
the All Progressives Congress, APC.
Former President claims that it tore the
country's economy to 'Shreds'.
Jonathan wrote this in his newly
launched book, 'My Transition Hours'.
PoliticsNGR gathered that Jonathan also
wrote that the narrative of inheriting an
empty treasury was false.
“Recall that the opposition and their
sympathisers and campaigners, both
local and international, with their
malicious propaganda, tore our
economy to shreds, threatened our
stability and existence as a nation and
intimidated our citizens, all in the bid to
take over power.
Rather than forge a coalition and build
on the momentum we had gathered
when they eventually took office, they
went on a persecution spree and
vengeance mission. That the country
slipped into recession soon after we left
office was a self-inflicted injury caused
by misplaced priorities. The narrative of
inheriting empty treasury is a blatant lie.
Also, the excuse of the collapse of world
crude prices does not hold water. This is
because the Fourth Republic took off in
1999 with crude oil selling for less than
$20 per barrel and a Gross Domestic
Product (GDP) growth at 0.58 per cent,
according to National Bureau of
Statistics (NBS) figures. Yet, the
economy maintained a steady growth
from that year, peaking at 15.33 per
cent in 2002 when the average crude oil
price was about $25.
It is also instructive that the oil and gas
sector constitute about 11 per cent of
our GDP. There had to be a wider
causative factor than just the fall in
world crude prices.
“It also amounts to standing facts on
their heads to continuously claim that
recession was caused by so-called
mindless looting. The truth is that the
opposition, in a bid to undo our
government, became its own undoing
when it got to power, because of the
burden of justifying deliberate
misrepresentations.
There is wisdom in the saying that if you
win a prize and get the crown, don’t go
around destroying the person who
previously held that prize; it will lose its
value.
Even after winning the election and
forming the government at the centre,
the blame game continued. When two
brothers fight to death, it is the
neighbour that inherits their father’s
wealth. And we have seen neighbouring
nations like the Republic of Benin and
Ghana reaping from the capital flight out
of Nigeria.”
He said with the calibre of people he
had in his government, no one could say
they were clueless.
“Just consider that my minister of state
for health, Dr Muhammed Ali Pate, is
now a professor at America’s Duke
University, as well as a Senior Adviser to
the Bill and Melinda Gates Foundation
based in Washington DC. My minister of
Agriculture, Dr Akinwunmi Adesina, is
now the President of the African
Development Bank (AfDB).
My Co-ordinating minister, Mrs Ngozi
Okonjo Iweala, is the chairperson of the
Board of the Global Alliance for
Vaccines and Immunization (GAVI) and
the African Risk Capacity (ARC). She
also sits on the board of Twitter and the
Asian Infrastructure Investment Bank,
just as she is a Senior Adviser at Lazard
and a Director at Standard Chartered Plc
in the United Kingdom, amongst others.
My minister of communication
technology, Dr. Omobola Johnson, is
currently chairperson of custodian and
Allied Insurance Limited as well as the
Global Alliance for Affordable Internet.
And it is not just members of my
cabinet. Others who served with me in
different capacities are also soaring on
the world stage.
A good example is Ms. Arunma Oteh,
who I appointed the Director-General of
the Securities and Exchange
Commission (SEC). Under her steady
and skillful direction, Nigeria’s equity
market grew in metric proportions, and
by the time I left office in 2015, the
market had tripled in size to $150 billion
in value. Two months after I left office,
Ms. Oteh was appointed a Vice-
President and Treasurer at the World
Bank.
With such personalities on my cabinet,
no one can factually say we were
‘clueless’ or inept. The evidence of
performance is simply overwhelming.
We gave Nigeria an impressive and
steady GDP growth rate at 6.7 per cent
per annum.
We were officially cited as the third
fastest growing economy in the world by
CNN Money in 2014. We eradicated
polio and guinea worm and became the
first nation in the world to defeat the
Ebola virus, such that the then richest
man in the world, Bill Gates celebrated
us for our prowess in the health sector.
We reduced our food import bill by 36
per cent.”
Source:
https://www.tori.ng/news/111206/
president-jonathan-finally-reveals-what-
caused-rec.html
|
Re: President Jonathan Finally Reveals What Caused Recession In 2016 by Stone123(m): 8:43pm On Nov 21, 2018 |
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