Nigeria under Buhari facing worst economic recession – Gowon Cries Out
|Former Head of State, General Yakubu Gowon|
He blamed past mal-administration for the country’s current economic problems, and said “the drop in the flow of oil money into the economy triggered an avalanche of imported consumer goods which have virtually killed domestic production.”
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Represented by his younger brother, Mr. Dauda Gowon, the former military leader also added: “I believe the troubles we have gone through, over the past few years, have helped Nigerians to see more clearly the difference between a self-sustaining economy and one that relies totally on a wasting asset such as oil.
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“As we speak, we have on our hands one of the deepest and most troubling economic recessions ever to plaque Nigeria. We have also seen the extent to which corruption has made good governance virtually impossible. It has rendered public institutions, including regulatory and judicial agencies sterile.”