Abuja - Former President Olusegun Obasanjo said that he supports the decision of the Buhari administration to sell the country's national assets however warned that the sale of assets should be regulated to ensure it didn't land in the wrong hands, Punch reports.
Obasanjo also added that he foresaw in 2014 the current tough economic climate that Nigeria finds itself in with the country finding itself in the midst of a recession.
Also read: Nigeria should borrow, spend less to end recession - Obasanjo
He lamented the current economic plight that Nigeria finds itself in however fell short of offering up solutions to end the current recession. While urging the Federal Government to spend less than what it was earning.
“For me, we have brought it on ourselves, we don’t have to wring our hands and say ‘where are we? In a simple layman’s language, the situation is that we are spending more than we are earning. We have not been able to save, so that we can go and take from what we have saved.
“If you are spending more than you are earning, you will have to spend less, you earn more and you borrow," Obasanjo said.
He encouraged FG to find ways to diversify the economy while highlighted the need to develop agriculture.
For more on this story, visit Punch.
- News 24