Peter Obi, a former Governor of Anambra state, have explained why Nigeria is in serious economic crisis.
The economist, who spoke at the ongoing conference tagged This Generation, organized by the Andy Osakwe-led The Summit Bible, said it still baffled him that some countries which were below Nigeria were now far ahead of the acclaimed giant of Africa.
“We are in crisis because we have no savings. We are only borrowing. Everybody comes to the government with this popular anthem of I meet an empty treasury. Two years after he is still digging deeper into the treasury instead of closing the one he met. The success of every manager is how much he has overcome challenges and not the challenges he created.
“As a student in the University of Nigeria, Nnsuka, we used to travel to London through Nigerian Airways with N40. You just go to the counter and buy flight ticket for just N40. you can see how far we have come. I could recall that I bought my first call, a Volkswagen for just N3,000. When I was coming out of the university, I bought my first 505 for N8,500. We are in a serious crisis," he explained.