Categories: Business & Economy

Give Paris Club money to States and Local Govts to end recession

Governor Aminu Waziri Tambuwal of Sokoto State has said one of the ways Nigeria will come out of recession is for the Federal Government to inject money into the economy.  He said the release of the Paris Club money to states and local government by the Federal Government will help in this direction.

The governor also gave reasons he had problem with former President Goodluck Jonathan, while serving as Speaker, House of Representatives.

Tambuwal served as the Speaker, House of Representatives during Jonathan’s administration, during which he had a running battle with the former President despite belonging to the same political fold.

Speaking during an interactive session with journalists in Sokoto State, the governor urged the Federal Government to spend more money, which, he said, would help the nation come out of recession.

He said: “I am not an economist, but ask any economist around the world about the panacea to recession. He or she will tell you that it is the injection of money into the economy.”

“That was why we have been talking with the Federal Government to release the Paris Club money to the states and local governments in the country.”

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Using the United States as an example, Tambuwal said:  “Former US President Barack Obama used construction works to take America out of the recession by constructing one of the longest road in the history of US. It was a strategy used to take the country out of economy recession because monies were injected into the public through road construction.

On his disagreement with Jonathan, he said it was as a result the former President’s “bad economic policies” during his government.

According to him, “I never hate former President Jonathan but only hate his policies during my stay as House Speaker. The many bad policies he implemented during his tenure have affected the country’s economy, which we are facing the reality today.

“Nigerians should realise that APC-led government was elected to solve problems. So, it wouldn’t take shortest time for these problems to be solved. We should know that destruction is always easier and take shorter time than rebuilding process.

“We know that Nigerians are running out of patience, but I will still appeal that we should show more understanding.”

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