You Won't Believe What President Buhari Said About Nigeria's Problem, See

President Buhari Says There Is No Easy Solution To Nigeria’s Problems

President Muhammadu Buhari, on Saturday, conceded that there was no simple answer for hordes of issues upsetting Nigeria.

In an across the nation communicate to honor the nation's 56th Independence Day commemoration, the President, in any case, guaranteed Nigerians that his organization was seeking after the arrangements accessible to it with a perspective to repositioning the nation. Buhari said it was ordinary for nations to confront good and bad times, while ascribing the monetary subsidence in the nation to a deficiency of remote trade and brutality by the Niger Delta activists.

According to him, the problems are temporary.

He said, “The recession has been brought about by a critical shortage of foreign exchange. Oil price dropped from an average of $100 per barrel over the last decade to an average of $40 per barrel this year and last.

“Worse still, the damage perpetrated by Niger Delta thugs on pipelines reduced Nigeria’s production to below one million barrels per day against the normal 2.2 million barrels per day. Consequently, the naira is at its weakest, but the situation will stabilise.

“But this is only temporary. Historically, about half of our dollar export earnings went to importation of petroleum products and food. Nothing was saved for a rainy day during the periods of prosperity. We are now reaping the whirlwinds of corruption, recklessness and impunity.

“There are no easy solutions, but there are solutions nonetheless. The government is pursuing them in earnest. We are to repair our four refineries so that Nigeria can produce most of our petrol requirements locally, pending the coming on stream of new refineries. That way, we will save $10bn yearly.”