Nigeria’s economy remains weak despite exit from recession –Tinubu

All Progressives Congress chieftain, Bola Tinubu, says though Nigeria has exited recession, the country’s economy remains weak.

Tinubu stated this in Kaduna while delivering a speech as the chairman of the 2021 Sardauna Memorial Lecture held in honour of one of Nigeria’s founding fathers, the late Sir, Ahmadu Bello.

Speaking on topic, ‘Reduction of the Cost of Governance for Inclusive Growth and Youth Development in Northern Nigeria in a Post-COVID-19 Era’, the former governor of Lagos State said though the regime of the President Muhammadu Buhari put buffers in place during the recession, the country’s economy still remained weak with “too much unemployment”.

Tinubu said, “In the midst of our local challenges came the COVID-19 pandemic, with its debilitating impact on the global and domestic economies. Nigeria, like many other countries, has not been spared the impact of the pandemic.

The APC stalwart also warned against wasteful spending amongst government officials, saying government must spend money to yield economic returns for the benefit of the masses.

He said, “Fiscal wisdom but not necessarily austerity is required for an economy like ours in a time like this, to ensure equitable wealth redistribution and meaningful use of resources.

The ex-Lagos governor also said job creation remained key to end restiveness and criminality amongst Nigeria’s young population.

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