“Told Jonathan’s government we are spending more than we earn they refused to listen to my advice” - Obasanjo

Obasanjo explained that he warned Jonathan about spending more than the country’s earnings but his advice was ignored.

Former President, Olusegun Obasanjo has blamed the Goodluck Jonathan administration for the current economic crisis in the country.

The former president made the comment on Tuesday, September 27, at the opening ceremony of the National Council on Finance and Economic Development Conference (NACOFED) in Abeokuta, Ogun State.

“I reminded the government that we were spending more than we were earning that very soon, the country would not be able to fund the budget… Unfortunately, the government then refused to listen to my advice,” Obasanjo said according to Daily Trust.

“I was shocked when the ban on importation of toothpick which we imposed in 1977 was lifted four years ago. How can a nation seeking to rank among the best in the world continue like that?" he added.

The former president also gave three solutions to the current recession. 

“The three options are we have to spend less, we must endeavour to earn and then the last one is to borrow, and this if we must, we do it fast and now,” he said.