• Saturday, July 13, 2024
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BusinessDay

God has a hand in Nigeria’s economic challenges – Oyegun

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National chairman of the All Progressives Congress (APC), John Odigie-Oyegun, has attributed Nigeria’s present economic downturn to an act of God to remind Nigeria on the need to implement and embrace radical change, particularly in the country’s current economic model.

Odigie-Oyegun made the disclosure when he received in audience a 15-member delegation of an APC support group, Change Agents Foundation (CAF) led by Felix Felix, its director-general, at the party’s National Secretariat in Abuja.

“I think God has a hand in the current economic predicament of the country. Imagine the sudden fall in the price of crude oil, the mainstay of the Nigerian economy, from its heights in 2014, averaging $112 per barrel down to the current price of $28 per barrel – lower than the $38 per barrel which the proposed 2016 budget is predicated on. It is an object lesson for us. It tells us that we must embrace radical change in our economic model,” Odigie-Oyegun said.

The drop in oil price has taken its toll on the revenue and expenditure of the Federal Government, and as a result is having a severe effect on the economy, the APC chairman said.

According to Odigie-Oyegun, “The concept of change is a difficult one. Nigeria must be ready to adapt to new ways of doing things. As a party, we know and understand it calls for tremendous sacrifice; there is no other way. Yes, the economy is in a bad shape, but maybe that is the kick we need to be innovative and find ways to drive the economy out of the woods.”

Also speaking at the meeting, Felix congratulated the APC national chairman for leading the party to victory at the last presidential election.

He said: “We are here to identify with you in this success and to say that while achieving success is a difficult thing, sustaining success is even more difficult. It is this realisation that prompted our coming together to form the Change Agents Foundation.”