Past govts extravagant spending caused economic recession – former Minister

Chief Nduese Essien

A former Minister of Land, Housing and Urban Development, Chief Nduese Essien, has attributed the current economic recession in the country to extravagant spending of past administrations.

Essien made the assertion in an interview with the News Agency of Nigeria in Eket, Eket Local Government Area of Akwa Ibom on Saturday.

Essien was a Minister under former President Goodluck Jonathan-led administration in 2011 on the ticket of the People’s Democracy Party (PDP).

The former minister said that the recession was not accidental, but “an act of God’’ to reduce excesses of our leaders in public administration.

“Nigerians should not be surprised about recession; the recession is not an accident.

“It is God’s intervention in Nigeria to make Nigerians sit back and look how true they have been in life,’’ he said.

Essien said that Nigerians had been living above their means in the last 16 years.

“Nigeria Government has been borrowing year-in-year out in order to sustain itself.

“And, the money coming into the country has been recklessly used by the people in office,’’ Essien said.

According to him, in the past, government’s impunity became the order of the day, and people’s rights were trampled upon.

The former minister said that the recession had caused Nigerians to look inwards and go back to a pattern of life that is sustainable.

He lauded the emergence of Gov. Udom Emmanuel of Akwa Ibom, describing him as “a prudent financial manager and erudite banker to manage the state finances’’.

Essien expressed optimism that the state governor would drive the state and manage the poor resources toward achieving the state’s goals.

“We are lucky in Akwa Ibom, because before recession started, we have got a good financial manager, who is very anxious to perform.

“He is ready to operate at the digital level to drive the state and manage the poor resources available.

“Gov. Emmanuel is the best thing that has happened to the state for having someone like him at this time of recession.

“If not, there would have been a serious crisis in the state with the lean resources accruable to the state,’’ Essien said.


Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to as the source.