President Muhammadu Buhari – Nigeria Is Poor

President Muhammadu Buhari – Nigeria Is Poor _smahs9ja.com_

President Muhammadu Buhari – Nigeria Is Poor 

President Muhammadu Buhari has blamed Nigeria’s economic downturn on a sharp downturn in the price of crude oil on the international market.

The President spoke while receiving the United Nations Population Fund’s Executive Director and Under-Secretary-General of the United Nations, Prof. Babatunde Osotimehin, at the Presidential Villa.

“It has been a very difficult year for Nigeria. Before we came to office, petroleum sold for about $100 per barrel.

Then it crashed to $37, and now oscillates between $40 and $45 per barrel.

“Suddenly, we’re a poor country, but commitment to transparency and accountability is not making people know that there is severe shortage,” the President said.

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Nigeria is on the verge of an economic recession and is no longer Africa’s largest economy following a recalculation of both countries GDP by the IMF.

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