Abdulmumin Jibrin tackles Dino Melaye, says Buhari not to blame for Nigeria's economic woes
Sacked chairman of the House of Representatives
committee on Appropriation, Abdulmumin Jibrin, has reacted to the statement by
Dino Melaye accusing President Buhari's economic team of our current economic
woes (read here).
In a statement he released on his Facebook wall, Jibrin argued that the
economic team members are competent to manage our economy. Read his statement
after the cut.
I'm compelled to say a few words on the attempt
by some people to apportion blame on President Muhammadu Buhari on the state of
the economy and also share my view on the call by Senator Dino Malaye on the
President to sack some ministers and Central Bank Governor as the solution to
the problem.
As a former Chairman of the House Committee on
Finance, and until recently Appropriation, I am in a good position to
contribute and proffer solutions to the problem.
Let me state very categorically that the
President is not to blame on the state of our economy today. It is unfair and
very wicked to push such blame on a man who just came on board barely a year
ago. Not even a magician can turn around the economy within a period of one
year. The biggest spending in our economy, that is the budget, hasn't even run
a full course of one year. Yet, some people want to crucify President Buhari.
Haba! Let's face reality!Â
We all know how badly oil price has gone, a
situation that adversely affected our foreign reserves and mounted pressure on
the naira. No matter what approach we adopt to manage and deal with the
situation, recovery will be slow. It is not President Buhari's fault. Everyone
seems to forget when the whole country was supporting more spending as against
saving. But here we are today, soaked in the rainy day. President Buhari should
not be used as anybody's scape goat!Â
The recurrent expenditure, which has escalated
and constituted a huge burden on our yearly budget rose from N950.32billion in
2006 to N1.372.20 trillion in 2008 and N2.593.62 trillion in 2015. This was not
created by President Buhari.
Similarly, the total cash call (oil production
cost) which rose from about N200 billion in 2006 to about N1.2 trillion in 2015
was not a creation of President Buhari. The cash call has remained another tale
of burden on our yearly budget. Statutory transfers including that of the NASS
are not left behind. Statutory transfers rose from just about N100 billion in
2006 to N375.62 billion in 2015. President Buhari was not the President then.
Debt servicing also rose from about N300 billion
in 2006 to N953.62 billion in 2015. These expenditures have over the years
constrained the budget and made it difficult to channel sufficient funds
towards productive sectors that can sufficiently grow the economy. Domestic borrowing
also skyrocketed during this period and created devastating consequences on the
economy.
Government at that time continued to mop up
money from commercial banks at a rate considered one of the highest in the
world, while the real sector is left with nothing. And even when they were able
to access funds, it came with an unbearable interest rate. President Buhari met
this situation on ground. He did not create it, but is doing his very best to
take us out of the economic quagmire. We should all support him.
On the call by Sen. Melaye on Mr. President to
sack some ministers, I disagree with that proposition. Nigerians are of the
habit of asking for the sack or removal of public officers, often for
sentimental reasons, envy or simply for an opportunity to join the fray. In my
assessment, I have not seen any member of the President's cabinet today -- from
SGF, HOS to ministers -- that is not good enough to hold the office. At worse,
the President may wish to reshuffle a couple of or more ministers based on their
strength and weaknesses for better service delivery.
A minister doesn't have to know
everything. A minister has an ample latitude to draw knowledge from the MDAs
staff or within the larger society to achieve result in his ministry. I believe
that most of the present cabinet ministers can source information or knowledge
from these reservoir when the need arises. I have worked very closely with most
of them and I am convinced that they have proved their mettle despite managing
a very difficult situation that they did not create.
I am sure nobody can question the competence of
Udoma Udoma. Finance Minister Kemi Adeosun is also doing her best, and having
worked with her, I am convinced she has all it takes to turn around the
economy. The Central Bank Governor is managing the most challenging period the
apex bank has ever witnessed. I think the president has worked with this team
for about a year. His cabinet team understands him better and vice-versa.
I believe if they stay focused and refuse to be
distracted, we shall soon start seeing the dividends. The President must not
fall for the trap of people trying to distort the progress made so far. Whoever
he appoints again, the call for sack will never stop.
I am therefore calling on my colleague, brother
and friend, Senator Dino Malaye that we should rather look inward and address
our own contribution to this problem as lawmakers. We can start by addressing
the budget and other monumental fraud under the watch of Speaker Yakubu Dogara,
a systemic corruption that affected and continued to derail the economy of our
dear country. That is the appropriate place to start. Remember, charity begins
at home!
Hon Abdulmumin Jibrin
APC-Kano
Kiru-Bebeji Federal ConstituencyÂ
Kano
APC-Kano
Kiru-Bebeji Federal ConstituencyÂ
Kano
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