President Muhammadu Buhari’s current economic policies are similar to those he promulgated during the military regime he led in the 1980s, a former Minister of Education and social critic, Oby Ezekwesili, has said.
Mrs. Ezekwesili said Mr. Buhari’s “archaic” and “opaque” economic principles are not only encouraging massive corruption and abuse of power, but also hurting the poor they was intended to help.
Mrs. Ezekwesili said this at The Platform, a yearly public policy forum that is currently underway in Abuja.
“During the first coming of this our new president, a command and control economic system was adopted.
“During that era, inflation spiralled. During that era, jobs were lost. During that era, the economic growth level dipped,” Mrs. Ezekwesili said. “That era wasn’t the best of eras in economic progress.”
“What did not work in 1984 cannot possibly be a solution in a global economy that’s much more integrated.”
Mrs. Ezekwesili said Mr. Buhari was rehashing the same “command and control” approach towards economic issues which has left the country’s economic indices worse off since he assumed office almost year ago.
“In over one year, the president is still holding to the premise that command and control is the only way out,” Mrs. Ezekwesili said. “In a year we have lost the single digits inflation status we maintained in past administrations.”
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Buhari was sent packing in 1985, 30 years after he was elected by a large parentage of voters, what has happened to Nigeria in terms institutional building, economic development strai,political structures. Nothing was done, the country went to sleep…,? Within 25 years Malaysian economy was turned around to where it now….what went wrong in Nigeria…?
Ezekwesili, Really? Hmmmm!! Indeed, “Hell hath no fury…..”