National Leader of the All Progressives Congress, Bola Tinubu, says the economy of Nigeria has ‘collided into an immovable wall’.
In a statement released by his media office on Thursday, Tinubu said the nation failed to invest, yet spent and feasted.
Tinubu bemoaned the lack of diversification of Nigeria’s economy by past leaders, while he also called for a new way of thinking, in essence- a ‘new economic paradigm’.
The statement reads in part: “For decades, Nigeria danced in close confines with economic disaster. In the past, higher oil prices allowed us to dodge the worst.
We have survived but not thrived. Improvised but not planned. Spent but not invested. Laughed, drank and feasted but did not build, construct or maintain.”
Now, Nigeria has collided into a wall, merciless and immovable. The present downturn in oil prices may be more than just a transient slump in the business cycle.”
“Tinubu seeks a new economic paradigm. Nigeria needs economic liberation. Before we can free our economy, we must free ourselves of the economic myths consigning us to our current predicament.”
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