By Sidi A. Umar
Sokoto
Governor Aminu Waziri Tambuwal of Sokoto state has said that for a country to get out of recession, more money must be injected into economy by way of buildings/roads constructions and other capital projects.
The governor, who stated this at in interactive session with members of the Correspondents’ Chapel on Saturday, said governors had been talking with the federal government to release the Paris Club money to the states and local governments in the country.
“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. With the release of such funds into the economy, there will be massive construction works and redistribution of money,” he said.
Tambuwal recalled that former US President Barack Obama had employed a similar strategy of massive construction works when US economy was in the “doldrums.”
The governor added that construction “is, therefore, key to taking Nigeria out of recession and bolstering the purchasing power of the citizens.”
He maintained that the country was thrown into the current recession by the way the previous administrations ran the economy.
“Nigeria would not have been experiencing recession had the previous government were prudent enough. When we raised alarm that time, people thought we hated the former President Goodluck Jonathan, I have nothing personal against Jonathan. But we have now been vindicated.
“Destruction is always easier and takes shorter time than rebuilding and the global economic down turn did not help the administration of President Muhammadu Buhari.”
He attributed that the global economic meltdown and sudden fall of price of oil at the international market compounded the situation in Nigeria because of its mono income nature.
He appealed to Nigerians to be more patient and show more understanding with the President Muhammadu Buhari-led administration, adding that “it is easier to destroy than to build.”
Earlier speaking, the Special Adviser to the Governor on Media and Public Affairs, Malam Imam Imam, said the Tambuwla administration in collaboration with the Bank of Industry (BoI) would provide N250 million soft loans to 25, 000 women across the state.
“The programme will start with the first batch of 25, 000 women, who have been registered by the Small and Medium Enterprises Development Agency (SOSMDA) in the state.
“Each of the women to benefit from the gesture would get N10, 000 to start up their small scale businesses,” he said.
He further said that the gesture was aimed at making the women to become self reliant, as well as enable them to contribute their quotas to the economic growth of the state.
