We are in recession because we, as a nation, thought we were an “oil-rich” country. If you compare our best production capacities vis-à-vis our humongous population, and those of other Organisation of Oil Producing Countries, OPEC, and none-OPEC countries (such as Saudi Arabia, Kuwait, UAE, Norway, Venezuela, USA Angola and others), it is obvious we are actually an “oil-poor” country and should not have depended on our oil alone for national survival. That mistake is a collective blame rooted in the mentality of the ruling class that took charge of Nigeria after the civil war. It goes beyond the PDP years; it is still evident in this Buhari administration, vanguardngr.com reports.
Yes, we are in recession because of the renewed militancy in the Niger Delta. But who caused it? Before Buhari came in, we had massive oil theft. But when he assumed office and came at governance as if on a vengeance mission, the militancy resumed.
Buhari did not realise the harm he was inflicting on the psyche of the nation when he propounded his “97%/5%” formula, which went against the Federal Character principle in the constitution. He used it to divide the country along political party, religious, regional, ethnic and sectional lines, favouring his kinsmen and supporters while neglecting those who did not support him. Read Full Info Here
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