President Muhammadu Buhari yesterday said that he almost absconded when he assumed power as President after realising the magnitude of the economic
problems that his administration would face.
Buhari spoke yesterday at a Presidential parley with the Senior Executive Course No. 38 (2016) of the National Institute for Policy and Strategic Studies, Kuru, Jos at the Presidential Villa.
He blamed successive administration since 1999 for the economic problems of the country.
The President said, “gentlemen, I have to digress now. For 16 years and eight consecutive government’s of the other party and you know that there was unprecedented revenue realized, the oil projection which can be verified was 2.1 million barrels per day.
“From 1999-2015 the average cost of each Nigerian barrel of oil was $100 per barrel. When we came it fell to less $30 per barrel and is now so laying between 40 and 50.
“Actually I felt like absconding because 27 out of 36 states in Nigeria could not pay salaries and we know they have no other source than to depend on salaries”, the President added.
“I asked any savings? I was told there was no savings, And I asked what have you done on agriculture, power, rails, roads. Nothing. You know more than I do because you move around. I have not been moving around since after elections but you do, how many of the Trunk A roads are still good enough? How many power do we have although there are some elements of sabotage.
“I was told the money was used to import food and fuel. I didn’t believe the answer and I still don’t believe it. Until now substantial number of people in the East eat garri and groundnut, in the West pounded yam, cassava, vegetables, in the north, tuwo, which is made from any of the grains, millet, sorghum. They eat it in the night and warm it in the morning and eat it and take fura dinunu in the afternoon. How many of those people can afford foreign food?, he asked.
“Then they said I should check out the petroleum, the legislature dedicated 445,000 barrels per day and that is just 60 per cent of our requirements. I said OK, what of the 40 per cent? The marketers that are bringing it just present documents, papers are just stamped and monies are taken away. This is the type of things that the Nigerian elites are doing for our own country. When you go back look at your colleagues and encourage them to be truly Nigerians”, Buhari said.
He noted that poverty reduction and inclusive development have become pillars of his administration which he said was very close to his heart.
Buhari commended the participants of the course through the able leadership of the National Institute of Management and the faculty members for coming out with a detailed report that would guide the administration
“I have looked forward to receiving this report because it touches on one of the fundamental problems confronting our nation. The report comes at a time when our economy is experiencing a downturn and all efforts are being made by this administration to get our country moving again.
He said it was impossible for his administration to ignore the poor who made great sacrifice to bring him and his party to government.
“A lot can be done by the national institute if more robust budgetary support is extended to it. For the Institute to operate as an “apex institution” and be at the forefront of relevant researches for national development , it is required to recruit and retain top level academics, very senior technocrats and other experienced specialized experts,” he said.
In his remarks, Acting Director General of NIPSS, Jonathan Juma said the financial situation of the national institute was precarious.
“The payments for utility services are in arrears and worse still, we have to live with threats of litigation from numerous creditors. Operational vehicles in the institute’s fleet have aged and are a source of constant embarrassment”, he said