President Buhari has revealed that Nigeria got into trouble because past leaders did not save for the rainy day.
He said this while speaking to a group of top notch professionals in the United States of America.
According to President Buhari, “We got into trouble as a country, because we did not save for the rainy day.
For example, between 1999 and 2015, when we produced an average of 2.1 million barrels of oil per day, and oil prices stood at an average of $100 per barrel, we did not save, neither did we develop infrastructure. Suddenly, when we came in 2015, oil prices fell to about 30 dollars per barrel.
“I asked; where are the savings? There were none. Where are the railways? The roads? Power? None. I further asked; what did we do with billions of dollars that we made over the years? They said we bought food. Food with billions of dollars? I did not believe, and still do not believe.
“In most parts of Nigeria, we eat what we grow. People in the South eat tubers, those in the North eat grains, which they plant, and those constitute over 60 per cent of what we eat. So, where did the billions of dollars go? We did a lot of damage to ourselves by not developing infrastructure when we had the money.”
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