President Muhammadu Buhari has revealed that he nearly absconded from office, when he saw there was no money to work for the Nigerian people after winning the 2015 elections.
The President made this confession on Thursday while addressing the Course 38 participants of the National Institute of Policy and Strategic Studies who presented their course work to him in the Presidential Villa.
The President again blamed the Peoples Democratic Party (PDP) for perpetuating poverty in Nigeria for 16 years.
The President who blames the recession in the country on the past administration wondered what the Peoples Democratic Party did with the revenue they made when a barrel of oil sold at 100 dollar per barrel.
“We’ve had 16 years and eight consecutive governments between the other party and you know the unprecedented revenue realized.
“The average production which can be verified was 2.1 million barrels per day from 1999 to 2014. The average cost of each Nigerian barrel of oil was 100 dollars per barrel.
“When we came, it dived to less than 30 dollars per barrel and is now oscillation between 40 and 50.
“Actually, I felt like absconding because 27 out of the 36 states of Nigeria could not pay salaries and we know the lower income groups depend on salaries to pay rent and manage their families.
“I asked, any savings? I was told there was nothing remaining. ‘What have you done on agriculture, power, rail, roads?’ Nothing.” he lamented.
The President, however, promised to bring Nigeria out of recession and make it stronger than he met it.
Economic experts are meeting at the National Institute for Policy and Strategic Studies, Kuru in Jos, north central Nigeria to discuss and proffer solutions to the economic recession with a view on the immediate, short and long time recipes.
The three-day think-tank conference is looking at recession to recovery and growth with discussions on policy options for the Nigerian economy with experts from the organised business and the academia as discussants.
Eminent economists, policy analysts, corporate leaders in the banking and financial sector, the academia, civil society as well as captains of industry and parliamentarians are brainstorming on the theme: ‘From Recession to Recovery and Growth: Policy Options for The Nigerian Economy’.
Setting the tone for discussants at the conference, Chairman, Senate Committee On Governmental Affairs and chairman of the occasion, Senator Tijani Kaura, challenged the gathering to come out with practicable solutions that will take the country out of the economic woods and proffer policies that will make the economy to be buoyant again.
A former deputy governor of the Central Bank, Dr Obadiah Mailafia; the Head of Economics Department at the University of Nigeria, Nsukka, Prof. Stella Madueme and the Executive Director of Capital Markets in the Nigerian Stock Exchange, Haruna Jalo-Waziri also gave recommendations on what should be done in revamping the economy.
The experts appealed to the federal government to harmonise and coordinate various agencies and suggestions being proffered in addressing the economic recession in the country including the outcome of the conference that is ongoing.