Delay In Jumpstarting Economy Pushed Nigeria Into Recession – Hagher

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Executive Director of African Leadership Institute in Ohio ,United States, Ambassador Iyorwuese Hagher, has blamed the lacklustre approach of the Buhari led government in kick-starting the economy for the recession being experienced by the country at present.

In an exclusive chat with LEADERSHIP Friday , Hagher , who is also the pro-chancellor of Afe Babalola University, Ado-Ekiti in Ekiti State, said although President Buhari inherited an economy on the brink of recession, the delay in taking off with an economic team of experts pushed Nigeria into recession.

The former ambassador and senator,revealed that not only has the inability of the government to identify and use sound economic advice to enforce sound policies pushed the country into the abyss of recession but ‘‘Nigeria has made itself unattractive as a foreign investment destination’’.

According to Hagher, Nigeria is a risky place to conduct business as the killing fields of Boko Haram, nomadic terrorism as well as the floodgates of criminality like; kidnappings, and armed robbery compounded by a pathetic infrastructure are enough to drive all, but the foolhardy investor, from investing in Nigeria, adding that the unstable security situation in the country encourages capital flight, which further devalues the naira and drives the economy into recession.

He also stated that those calling for the restructuring of the country are playing politics, adding that many are frustrated by the Nigeria Project and feel that Nigeria needs to break up before they can realize their personal or collective ambitions and aspirations.

‘’I believe that geography and history has fused us together for strength. We have been an independent country for many years. We have even woven together a tapestry of cultures, dress codes, cuisine, experienced hardships, civil war, corruption, bad leaders, good leaders and even religious piety, harmony and disharmony.’’

 

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