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Nigeria feeling the heat of the economy - Obasanjo

Nigeria feeling the heat of the economy - Obasanjo

- Chief Olusegun Obasanjo has called on Nigerians to be patient

- The former president noted that the economy is not booming yet

- He however expressed optimism that things will get better soon

Former president, Chief Olusegun Obasanjo, has said that Nigeria’s economy is not booming yet and urged the citizens to be patient.

The Punch reports that the former president at the 52nd annual service of songs of the 1st ECWA Church, Ilorin in Kwara state.

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Legit.ng had reported that the country’s economy moved out of recession according to April Sales Managers’ Index (SMI) data by World Economics.

According to the report, the economy has seen a steady growth in the past few months.

The London-based organisation dedicated to producing financial analysis, insight and data relating to questions of key importance to the world economy declared on Tuesday despite negative growth that oversaw the death of many business that the country's economy is out of recession, but “conditions remain difficult for businesses.”

Obasanjo however said the citizens are still feeling the effect of bad economy but assured that things will get better soon.

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He said: “This current hard time will not last. The economy is not booming. Everyone is feeling the heat but people should be patient. The small and large scale business owners are all feeling it. It is normal for people to experience hardship as a result of the current economic challenges. People should be patient; it will not last."

Meanwhile, a former military head of state, Abdulasalami Abubakar called all Nigerians to work together towards preserving the nation's unity.

Abubakar said Nigeria's major challenge is unity and cohesion.

The former military head of state while speaking on behalf of award recipients at the Modibbo Adama University of Technology, Yola, said Nigeria's economy cannot contend with the level of agitations and calls for restructuring presently ongoing.

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Source: Legit.ng

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