Obadiah Mailafia laments poverty situation in the country

Obadiah Mailafia laments poverty situation in the country

- Obadiah Mailafia has lamented the poverty situation in the country

- According to him, there is a lot of suffering in the land

- The former deputy CBN governor also lamented that economic growth does not tally with the population growth

Obadiah Mailafia has lamented the poverty situation in the country. According to him, there is a lot of suffering in the land.

Mailafia who is a former deputy governor of the Central Bank of Nigeria (CBN) disclosed this on Monday during an interview on Channels Television.

“There is a lot of suffering in the land. There is no way we can gloss over it. We could but the reality is that life has become more difficult for people,” he stated.

Going further, the ex-CBN deputy-governor also lamented that the economy is growing at a slow pace.

According to him, economic growth does not tally with the population growth. He said the situation is negative.

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Recall that Legit.ng had reported that former president, Olusegun Obasanjo, on Friday, December 27 said between 2015 and March 2019, Nigeria’s external debt profile suddenly grew from $10.32 billion to N24.947 trillion or $81.274 billion.

Obasanjo also warned that the country was currently sinking under this external debt adding that something urgent needed to be done to save future generations from bearing the brunt. This is aside the $29.6 billion loan the federal government seeks to secure, he said.

Obasanjo issued the warning concerning the effect of such massive borrowing when he spoke at an event, the ‘why I am alive campaign’ organised by Nigerian pastor, Itua Ighodalo, in Lagos on Friday, December 27.

The former president, who governed the country between 1999 and 2007, shared his experience with borrowing as an individual and on behalf of the country. In the speech, he painted a gloomy future for Nigeria should its leaders not take a fresh look at their steps in relation to loans.

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