Ezekwesili Insists Buhari’s Economic Policies Opaque, Archaic

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Ezekwesili Insists Buhari’s Economic Policies Opaque, Archaic

By Correspondent

 One-time education minister, Oby Ezekwesili has said that the economic policies of the Federal Government led by president Muhammad Buhari are similar to those he promulgated during the military regime he led in the 1980s. The former minister stated this at a forum organized by the Covenant Christian Centre and convened by Pastor Poju Oyemade in Abuja. She added that Buhari’s economic policies are not only encouraging massive corruption and abuse of power but also hurting the poor they were intended to help. According to her, “During the first coming of this our new president, a command, and control economic system were adopted. During that era, inflation spiralled. “During that era, jobs were lost. During that era, the economic growth level dipped. “That era wasn’t the best of eras in economic progress. What did not work in 1984 cannot possibly be a solution in a global economy that’s much more integrated. “In over one year, the president is still holding on to the premise that command and control are the only way out. “In a year we have lost the single digits inflation status we maintained in past administrations. “The president comes into this economic philosophy on the premise that he does not want the poor to suffer. “I can relate to that, a leader must not allow the poor to suffer, especially a leader who knows that most of his votes came not from the elite but from the poor. “The problem though is that the intention and the outcome diverge. The weakest and the most vulnerable suffer the impact of inflation the most. Enormous power is being abused as a result of opaque economic policies. “Companies are suddenly finding themselves unable to produce because they’re unable to access the foreign exchange. “Mr President should sit with his team and look at the economic evidence that speaks loudly. It’s time to sit back and review the well-intended idea of command and control economic principle. “He should do what the Americans say that “if it ain’t broke, don’t fix it”. 

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