The President Buhari, however, said his administration was committed to reflating the economy and improving the standard of living of Nigerians.
President Muhammadu Buhari yesterday attributed the economic recession partly to the global downturn and the failure of past governments to save for the rainy day.
“Fellow compatriots, as you celebrate the Eid-El-Kabir, I salute your steadfastness in spite of the difficult economic times the country is going through,” Buhari said, adding:
”The lessons of the Eid are piety and sacrifice and, my dear brothers and sisters, you have exhibited these in equal measure.
”The present recession is as a result of cumulative effects of worldwide economic downturn and failure in the past to plan and save for difficult times. It is impossible to separate the present from the past to appreciate the extent to which mistakes of the past are affecting everyday life today.
”I assure you that this administration is working round the clock to remove the hardship the country is going through. Rail and road construction, projects in the housing sector, support for farmers and for small and medium scale industries, youth and women’s empowerment programmes, support for revival of industries are all designed to reinvigorate the economy and enhance living standards of ordinary people.”
While noting that his administration is getting security right and stopping corruption in its tracks, Buhari is confident that the government will get the economy right – by the grace of God.
”I enjoin Muslims to live by the dictates of Islam, to keep good relationships with their Christian brothers and sisters and as patriots to maintain the spirit of the Nigerian nation,”