The Minister of Budget and National Planning, Udoma Udo Udoma, yesterday said the Buhari-led administration is not responsible for the current economic downturn. Speaking to state house correspondents at the end of the National Economic Council, NEC, Udoma said;
“We did not and are not responsible for the current economic situation we find ourselves. We are actually a rescue team, a team working to rescue Nigeria from the position we find ourselves in.
Under President Buhari, we are determined to take Nigeria out of the situation. The situation started long before we came. As you know, oil price started falling from 2014 when it was about $110 and by January this year, it was below $30. Unfortunately, they did not save. We are determined to take Nigeria from a consuming nation to a producing nation. That is why we are developing an economy recovery plan and that is our focus. We are committed to success.”
He disclosed that part of the rescue measures the government intends to adopt is to cut down on the retinue of political aides, size of their convoys, local and foreign trips amongst others.