Current economic recession requires our sacrifice—Tinubu

Former Lagos State Governor and All Progressives Congress (APC) National Leader, Asiwaju Bola Tinubu, has said that the economic recession the country is going through at present requires the sacrifice of all Nigerians to see the country through.

In a short remark on Wednesday night in Lagos at the Chartered Institute of Stockbrokers’ investiture of its president, Mr. Oluwaseyi Emmanuel Abe, Tinubu said Nigeria was blessed with both human and natural resources, which it will now properly harness to come out of the recession.

The APC leader also spoke on the significance of electricity in driving economic development. He recalled how Lagos State invested in private power project to generate electricity during his time as governor.

Also speaking at the event, former Vice President Atiku Abubakar, said the country should rely on taxes and not oil, arguing Nigeria’s biggest problem is addiction to oil revenues.

He decried the belief that the country is doomed “unless oil flows and oil money fills the Federation Account for our tiers of government to share”.

At the investiture, former AMCON CEO, Mustapha Chike-Obi, spoke on the theme “Nigeria’s Economy: Growth, The Only Imperative”.

Tinubu described Chike-Obi as one of the best economic managers the country has ever produced.

In his presentation, Chike-Obi urged that the country to borrow to finance specific capital projects, saying the fact that borrowing was misused in the past does not mean borrowing as an economic option is wrong.

Picture caption:

L-R: Former Vice President of Nigeria, Alhaji Atiku Abubakar ; newly inducted President, Chartered Institute of Stockbrokers (CIS), Mr. Oluwaseyi Emmanuel Abe; National Leader of APC, Asiwaju Bola Ahmed Tinubu; and former governor of Anambra State, Mr Peter Obi during the investiture ceremony of President of the Institute at Civic Center, Victoria Island, Lagos on Wednesday.