PMB blames OBJ, GEJ for state of economy

President Muhammadu Buhari has placed the blame for the gloomy state of the economy on the past administration of PDP, which he said failed to save for the rainy days.

The President recounted that for the greater part of the last 16 years, oil sold above $100 per barrel but expressed regret that the nation did not have much to show for it.

The last 16 years witnessed the Presidency of former presidents Olusegun Obasanjo, the late Musa YarÁdua and Goodluck Jonathan.

Buhari said “In the First Republic, more durable infrastructure was built with meagre resources. But in the past 16 years, we made a lot of money without planning for the rainy day.

“We showed a lot of indiscipline in managing our economy, and that is why we are where we are today. But this time round, we’ll do our best.”

He made the claims while receiving the President of the International Civil Aviation Organisation (ICAO), Dr Bernard O. Aliyu at the State House, Abuja.

Stressing the urgent need to ensure that the potentials of Nigeria are harnessed and used for the good of the country, he declared that: “Nigeria needs to work on her potentials, so that we don’t remain permanently at the level of potentials.”

Dr Aliyu, the Nigerian-born ICAO president commended President Buhari for strides on anti- corruption, and urged Nigeria to pay more attention to development of civil aviation.