Economy: Buhari not architect of our troubles

This is how some people put it, that Nigeria is bleeding and that President Muhammadu Buhari is responsible. We therefore ask, is Buhari really responsible for our present economic predicament? The answer is, No. President Buhari and his government are not the authors of the present situation. No patriotic leader will like to see his […]

This is how some people put it, that Nigeria is bleeding and that President Muhammadu Buhari is responsible. We therefore ask, is Buhari really responsible for our present economic predicament? The answer is, No.
President Buhari and his government are not the authors of the present situation. No patriotic leader will like to see his people suffering. Any sound minded Nigerian knows that PMB has not come to create hardship. We must do justice to him and his team. They were invited by Nigerians, particularly the masses to come and save this country from total collapse.
During the previous regime, we were living on borrowed funds, even our salaries were paid with money borrowed from other countries. Many state governments could not pay their salaries for many months. We are all witnesses to how they were relieved by bailout. Now the federal government pays salary before the end of every month, but before, that was not the case. I am certain that those who say we were better off under the last administration are oblivious of the fact that we were living on borrowed funds. People should look at the huge liability left by the previous government which Buhari’s administration is under obligation to clear.
Nigerians should take solace in the fact that the president and his aides are not interested in looting. We all know that Buhari held exalted and lofty positions in the past, but never looted funds belonging to the country.
We must understand that when Buhari came to power, the economy was already battered. Our foreign reserve had depleted, just as oil price had fallen. Vandals have also  become more aggressive in their activities, thereby causing the country to lose huge sums of money.  Furthermore, the economic recession we are experiencing now is not confined to Nigeria only. Those who are following international events can see that it is a global phenomenon. Developed countries too are suffering from it.
In some quarters, some of us are yelling and wailing, blaming PMB for the present state of the economy.  Sadly, some of these people were the ones who impoverished the country by their embezzlement.
Instead of the condemnation, lets all of us come together to revive the economy by contributing our quota. We must reduce our over dependence on oil. Also let us explore other minerals that abound in the country. By and large, the have-nots should not allow themselves to be used by those who have as was done to President Mursi of Egypt.  I firmly believe.
I have seen some Newspapers referring to the present economy as “Buharinomic” meaning Buhari’s economy. This can be translated by people in different ways.  Some people may say that Nigeria has never experienced economic crisis like now, just as another group can say the level of corruption  Nigeria experienced in the past few years can be compared to none. Our Naira is now weightless, while the value of the dollar is continuously going up. We must however understand that this is not because of devaluation, but because it has no base to stand as a result of wanton malfeasance.
By Prof Mu’azu Nguru is the Chief Executive of Nigeria Arabic Village, Gamboru Ngala, Borno State.