Nigeria Is Broke, Buhari Laments

President Muhammadu Buhari, yesterday, disclosed that the country was currently broke. The President said what was happening at the moment was that Nigeria is paying dearly for incompetence in managing high revenue that accrued from oil.

President Buhari stated this yesterday while receiving the Chief Global CEO of Unilever, Mr Paul Polman, at the presidential villa, Abuja. The President’s remark came few weeks after the Minister of Information and Culture, Lai Mohammed, had confirmed that the country was broke.

He lamented that over the past decade in particular, leaders have allowed the decay of critical infrastructure. President Buhari said his administration was working very hard to change the structure of the Nigerian economy battered by several years of mismanagement.

”We refused to save for the rainy day. Now the rain is beating us. No money, no savings, nothing. And we are thoroughly wet from the rains,” he said. President Buhari said Nigeria was paying the price for turning herself into a mono economy but assured that the country would soon be able to feed herself and even export, with the current emphasis placed on agriculture