ABUJA – By Gloria Emmanuel A former Minister of Education, Oby Ezekwesili Saturday said that President Muhammadu Buhari is adopting the same ‘Command and Control Economic System’ that failed the nation when he was in charge as Military Head of State in 1984.
Speaking at The Platform, a public engagement forum in Abuja, she warned that the system that did not work in 1984 is not likely to work in today’s global economy.
Ezekwesili, a former Vice President of the World Bank, recalled that inflation was high and thousands of jobs lost during Buhari’s first coming that led to hardship across the land.
Describing Buhari’s economic policies as “archaic and opaque”, Ezekwesili, recalled “During the first coming of this our new President, a command and control economic system was adopted.
“During that era, inflation spiralled. During that era, jobs were lost. During that era, the economic growth level dipped
“That era wasn’t the best of eras in economic progress. What did not work in 1984 cannot possibly be a solution in a global economy that’s much more integrated.
“In over one year, the President is still holding to the premise that command and control is the only way out.
“In a year we have lost the single digits inflation status we maintained in past administrations.
“Companies are suddenly finding themselves unable to produce because they’re unable to access foreign exchange.”
She therefore, advised that the President should “sit down with his administration officials and reconsider the impact his polices have had on the nation’s economy.”
Also speaking, Vice President Yemi Osinbajo, said that despite the hardship being experienced now, Nigerians should be rest assured of a better tomorrow.
He said, “We believe that though it may not be easy, though the early signs may be confusing and sometimes discouraging, there has never been a better opportunity than now to turn the country in the direction of success.”
“Today we have the best opportunity in decades for profound change. It is an opportunity in a generation. A revolution whose time has come.”
The Platform, is a public engagement forum organized by the Covenant Church led by Pastor Poju Oyemade.
