A former Minister for Education, Oby Ezekwesili has stated that the economic policies put forward by the President Muhammadu Buhari administration are similar to the ones he also adopted in 1984, when he was a Military head of State.
And according to her, “What did not work in 1984 cannot possibly be a solution in a global economy that’s much more integrated.”
Ezekwesili made the assertion at the 2017 edition of The Platform, a yearly public policy that held in Abuja, on Saturday.
She said that “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.
“That era wasn’t the best of eras in economic progress.”
She continued, that “In over one year, the president is still holding to the premise that command and control is the only way out. In a year we have lost the single digits inflation status we maintained in past administrations.”
“The president comes into this economic philosophy on the premise that he does not want the poor to suffer. I can relate to that, a leader must, especially a leader who knows that most of his votes came not from the elite but from the poor.”
“The problem though is that the intention and the outcome are diverged.
“The weakest and the most vulnerable suffer the impact of inflation the most. Enormous power is being abused as a result of opaque economic policies.
“Companies are suddenly finding themselves unable to produce because they’re unable to access foreign exchange,” Mrs. Ezekwesili said.
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