Why Nigeria’s Economy Is ‘Broken’ – Timipre Sylva

A file photo of a food trader at a market in Akure, the Ondo State capital. Sodiq Adelakun/Channels Television

 

The Minister of State for Petroleum Resources, Mr Timipre Sylva, has defended the handling of the nation’s economy by the Muhammadu Buhari administration.

He was responding to questions about the economy and other issues during his appearance on Thursday’s edition of Channels Television’s Politics Today.

While critics have accused the government of worsening the economy, Sylva put the blame on the Peoples Democratic Party (PDP) led administration.

“What we inherited is like broken China (plate),” he said when asked about the state of the economy. “Somebody broke the China and arranged it very well on the table as if it was not broken.

“So, you came into the room, and you thought there was a China on the table and you tried to pick it up, and it just fell into pieces in your hands; who broke it, is it you or was it already broken?

“That was the kind of economy we inherited; we inherited an economy that was already broken. We tried to pick up the economy and it scattered in our hands.”

President Buhari won the 2015 presidential election on the strength of his campaign promises which bordered on fighting corruption, providing security, and improving the economy.

 

He has, however, been seriously criticised by individuals and groups – especially the opposition party – for the way the economy is being handled.

The criticism is triggered by the increase in the prices of food and other commodities, as well as the devaluation of the naira against the dollar, among others.

The present administration is, however, not bothered by the criticism, according to Sylva.

Instead, it will continue to step up efforts to better the lives of the people.

He is also confident that the ruling APC will be the party to beat in the general elections in 2023.

The minister is certain that Nigerians will vote for his party “over and over again”.

Akinola Ajibola

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