Recession not caused by this administration – Buhari

President Muhammadu Buhari says the current economic recession in the country is s product of bad management of the nation’s resources by past administrations.

Buhari said this on Thursday at the State House when he received participants of the Senior Executive Course 37 of the National Institute for Policy and Strategic Studies (NIPSS).

He said, “In the last one and half years of this administration, the economy has experienced some tough times, particularly with the decline in oil revenues, which has some harsh impacts on Nigerians at the grassroots. It is also important to note that the economic recession is not the making of this administration, but rather a consequence of bad management of the economy in the past couple of decades. Nor is recession limited to Nigeria – there are far, far worse cases than Nigeria.

“Whatever the scale of the problem the important thing is how one tackles it. Accordingly, this administration is committed to finding lasting solutions to our economic structural imbalance. Let us have faith in our great nation that we will come out of this recession vibrant and strong. I am glad that the report presented today has given us reason to keep faith in our ability to overcome our challenges.”

He commended the participants as he promised that his administration was committed to the Sustainable Development Goals, most especially to ending extreme poverty in Nigeria.

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