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Government & Politics

“Nigeria Is Too Big To Fail, I’m Ready To Help Nigeria Out Of Recession” – Akinwunmi Adeshina Says

Akinwunmi Adeshina
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Akinwunmi Adeshina, a former agriculture minister to ex-president Goodluck Jonathan, has revealed that he is greatly concerned about the survival of Nigeria’s economy under President Muhammadu Buhari. He is now on a mission to help the country survive.

Akinwunmi Adeshina, former agriculture minister under Goodluck Jonathan is determined to save Nigeria’s economy from the current recession. The president of the AfDB says that ‘Nigeria is too big to fail’ and the bank is ready to render all the help it can to keep Nigeria’s economy afloat’ Akinwunmi Adeshina wants to help Nigeria get out of recession.

Adeshina, who is currently the president of the African Development Bank (AfDB), expressed his determination to do everything within his power to help Nigeria get out of the economic recession it is presently in. President Buhari is getting all the help he desperately needs from officials of the previous government Reuters quoted him as saying on Monday, October 3 that Nigeria is “too big to fail” as Nigeria’s economy swims in a recession after a dip in oil revenues that constitutes 70 per cent of national income which is needed for public financing.

“Nigeria is too big to fail. The African Development Bank (AfDB) will rally strongly around Nigeria to overcome its recession,” Adesina said in the interview late on Monday in London. “They have a liquidity problem,” said Adesina, “We want to make sure Nigeria gets resilient.” Adeshina also lampooned the Central Bank of Nigeria, noting that the current rate at 14 per cent was way too high at the state of the economy.

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“The interest rate is way too high. You cannot drag the economy out of recession with those interest rates,” Adesina said. The AfDB has agreed to lend Nigeria a total of $4.1 billion over 2016 and 2017 and more than double that to some $10 billion by 2019. Adeshina made the pledge on behalf of the bank during his first visit to Nigeria since he became the president of the AfDB. President Buhari is getting help and offers of more help from professionals in the former administration that he has declared corrupt and responsible for the recession. Another former aide to Jonathan, Dr. Awosan recently declared his readiness to help Nigeria survive the hard times and also called on others like former finance minister Ngozi Knonjo-Iweala to help get Nigeria out of the doldrums.


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