The Minister of Labour and Employment, Chris Ngige, has admitted that President Muhammadu Buhari has not met with the expectation of Nigerians.
Speaking to journalists in Awka, Anambra State, on Monday, Ngige said he feels fulfilled despite Buhari’s failure to meet expectations. He however gave the president a pass for his efforts to salvage a damaged economy.
The Minister observed that people are complaining because there is no free flow of money anymore, no leakages for corrupt people to take money and spend.
He said, according to Daily Post ,“I feel fulfilled even though the expectations of Nigerians have not been met.
“I feel that President Buhari has scored a pass mark within the resources available; special circumstances of terrorism; militancy in Niger Delta; global oil price slash; and low oil output.
“People are complaining that the price of food has gone up. Yes, these things you should expect when you do what is called a shock therapy on any economy or system of government.
“Nigeria was producing 2.2 million barrel a day as per OPEC quota but for most part of 2016, at least for three quarters of 2016, we were producing 1.2 million barrels and the prices fell from 100 Dollars per barrel to 35 Dollars per barrel.
“Unfortunately, recession had to creep in because it is one of the fallouts of a very badly managed economy that is dependent and based on only oil.
“I am happy to tell you that with the statistics we have got now, Nigeria’s economy is no longer contracting.
“It is growing and by the predictions of economists, members of the economic team and CBN as well as that of the World Bank, Nigeria will come out of recession by the third quarter.”