Buhari's style is frigthening to investors-Ben Bruce
Oluwatobi Bolashodun Moments ago 1
Senator Ben Murray Bruce has criticized President Muhammadu Buhari’s approach to governance in the face of economic recession
The senator representing Bayelsa central district described Buhari’s style of governance describing it as frightening even to domestic investors
He urged President Buhari to appoint the best brains into his cabinet without looking at gender, religion, region or political affiliation
Senator Ben Murray Bruce on Tuesday, September 20, came hard on President Muhammadu Buhari’s approach to governance in the face of economic recession, describing it as frightening even to domestic investors.
Bruce in his contribution on the floor while suggesting possible ways out of Nigeria’s economic quagmire, said Buhari’s style of governance with regards to fighting corruption was not in agreement with the 21st, as people are now being chased around by anti-graft agencies.
He said elites who should invest in an economy as domestic investors were less than 1% controlling the larger population of 99%, but were afraid to put their money into the economy in terms of investment.
“Distinguished Colleagues, if am not mistaken, there is hardly any of us here that has not been docked for one thing or the other, and you would agree with me that you will be scared of investing in this administration,” he added.
While decrying the astronomical increase of essential commodities at the rate of 150%, he said, workers were at the receiving end since there was no increase in wages, a situation he posited has resulted to hardship.
Speaking further on Thursday, September 22, Bruce asked why Nigeria is still importing rice?
He said: “What happened to the government’s plan to ban the importation of rice? Is rice such a necessity that if we do not import it we would all die?”
Fuel imports and food imports, especially rice, wheat and sugar are the biggest drain on our foreign reserves and therefore the major reason that the Naira is losing value almost weekly.
It therefore follows that if we can refine our fuel locally and make do with whatever rice, wheat and sugar we produce in Nigeria, we would be in a better foreign exchange position and our economy would be the better for it. So why are we not doing that?
Necessity is the mother of invention. But where is our own inventiveness?, he said.
He urged President Buhari to appoint the best brains into his cabinet without looking at gender, religion, region or political affiliation.
The senator representing Bayelsa central district on Thursday, September 8 revealed the key reason why Nigeria is officially in recession is because of the “hurried implementation” of the Treasury Single Account (TSA).
Bruce who shared his views through his official Twitter account, stated that nobody locked up money in a vault in a recession.
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