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"Recession Will Soon Be Over."-Osogbo Billionaire Tunde Badmus Tells Nigerians

The Osogbo based industrialist and Chairman Tuns Group of Companies Alhaji Tunde Badmus has advised Nigerians to give their support to the administration of Muhammadu Buhari, expressing optimism that the economic recession the nation is in will end soon.

Asiwaju Badmus also said that rather than blaming the current administration for the nation’s current woes, Nigerians should count themselves lucky to have President Buhari as the president of the nation at a period of economic recession.

While addressing reporters in Osogbo, the State of Osun's capital, the agriculturist said ‎the recession started many years ago and that the new Government of President Buhari was rallying vigorously to fix the situation and boost the economy.

According to him, “the Economy is not something you can fix in a day. If you are earning 20 million Naira on a daily basis and the income now comes to eight million Naira, what will you do?

“The former Minister of Finance ‎announced publicly that about one quarter of the Nigeria’s revenue goes to people who were stealing Nigeria’s oil and they were not able to arrest them, but President Buhari came and blocked all those leakages and the people who are used to syphoning the nation’s crude for many years are not happy about it that is why they took to arms.

“Besides, these same set of people are the ones ‎that the previous government awarded the contract of securing the pipelines.

“The people that are stealing the oil are the same people given the contract to secure the pipeline, what do you think the result will be?”.

He also assured Nigerians that President Buhari was not resting on his oars, expressing the belief that “if we all support him, this recession will come to an end very soon”.

On what could be done to bring the economy back to a growing position, he said: “The best solution is to look inward as everyone has been saying. Our financial system is not okay.

“The banks are not interested in the real sector. If the Banks have shown interest in the real‎ sector, which is Agriculture, from the beginning what we are experiencing today may not be there.

“Virtually every other thing we use as human beings in this life is related to Agriculture except few electronics and we need to go back to that.

“Take the rice issue for instance, if the north continues with the rice production and other states follow suit, in the next six months, the price of local rice will be cheaper than foreign rice which we really have to stop importing”.

He further stressed that bringing the economy back on track needed time to materialise.

“The government needs the support of everyone to succeed. If we don’t support the government, who else will we support?

“Can you think of anyone who can run the country better? Most of the people criticising the government today are not really into the real sector.

“I believe we are one and we need to co-exist‎.

“We need to understand ourselves and Move forward to make the nation a great place that we all believe in,” the farmer added.
Credit: Channelstv


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